Stock Market Today, March 24: Oil, AI, and Private Credit Fears Weigh on Markets

By Emma Newbery – Mar 24, 2026 at 5:12PM ESTThe S&P 500 (^GSPC 0.37%) fell 0.37% to 6,556.37, and the Nasdaq Composite (^IXIC 0.84%) dropped 0.84% to 21,761.89 on tech and software weakness.

The Dow Jones Industrial Average (^DJI 0.18%) slipped 0.18% to 46,124.06 after a day of choppy, oil-driven trading.Market moversOracle (ORCL 4.70%) slid almost 5%, extending a more than 50% retreat from its September peak. Software stocks, such as ServiceNow (NOW 5.68%) and Salesforce (CRM 6.50%) tumbled. Reports of new artificial intelligence (AI) tools from Amazon.com (AMZN 1.45%) put pressure on the sector. Microsoft (MSFT 2.77%), slipped almost 3%.In biotech, Immunic (IMUX +6.84%) jumped nearly 7% after Guggenheim initiated coverage with a “buy” recommendation. ImmunityBio (IBRX 21.49%) tumbled on an FDA ad warning.What this means for investorsOil prices and the conflict in Iran continued to weigh on markets today. The price of Brent crude rebounded above $100 as yesterday’s hopes of de-escalation began to fade. Traffic through the Strait of Hormuz remains heavily restricted, and higher oil prices are stoking inflation fears.The VIX index, which measures volatility and signals fear in the market, is close to its highest levels since last year’s tariff-related disruptions. This shows that investors remain cautious and are still evaluating the long-term impact of the war. The S&P 500 has declined almost 5% in the past month.In addition to hostilities in the Middle East, further troubles in private credit markets emerged today. Ares Management (ARES 0.92%) joined other alternative asset managers in capping withdrawals, signalling further distress in the sector. Read NextMar 24, 2026 •By David Jagielski, CPAIt's Been 6 Years Since the 2020 Market Crash. Here's How Much the S&P 500 Has Rallied Since ThenMar 24, 2026 •By Sean WilliamsThe First Federal Reserve Inflation Forecast for March Is In -- and It's Not PrettyMar 24, 2026 •By David DierkingS&P 500 Is Sitting 6% Below Its January Record. Is Now the Time to Add to Your SPY Position?Mar 24, 2026 •By Trevor JennewineThe Stock Market's "Fear Gauge" Says the S&P 500 Will Make a Big Move in the Next Year (Hint: It's Good News)Mar 24, 2026 •By Katie BrockmanInvesting During Political Uncertainty: What History Actually Tells Long-Term InvestorsMar 23, 2026 •By Emma NewberyStock Market Today, March 23: Stocks Rally on Iran De-escalation SignalsAbout the AuthorEmma Newberry is a contributing Motley Fool cryptocurrency analyst covering digital currencies and blockchain trends. She previously wrote for Motley Fool Money (formerly The Ascent) on personal finance, investing, retirement readiness, and crypto. Earlier in her career, Emma founded an English-language newspaper in Colombia and contributed to Olympic city bid campaigns. She holds a bachelor’s degree in English literature with creative writing from the University of East Anglia in the UK.TMFemmanewberyStocks MentionedS&P 500 IndexSNPINDEX: ^GSPC$6,556.37(-0.37%)-$24.63NASDAQ Composite IndexNASDAQINDEX: ^IXIC$21,761.89(-0.84%)-$184.87Dow Jones Industrial AverageDJINDICES: ^DJI$46,124.06(-0.18%)-$84.41OracleNYSE: ORCL$147.09(-4.70%)-$7.25MicrosoftNASDAQ: MSFT$372.37(-2.77%)-$10.63ImmunicNASDAQ: IMUX$1.25(+6.84%)+$0.08ImmunityBioNASDAQ: IBRX$7.38(-21.49%)-$2.02AmazonNASDAQ: AMZN$207.10(-1.45%)-$3.04*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.