Your portfolio soared on cheap risk — but that’s over now

Site SearchClearSEARCHAdvanced Search ➔Search ResultsSymbolsNo results foundAll NewsArticlesVideoPodcasts0 ResultsNo Results FoundAuthorsNo results foundSectionsNo results foundColumnsNo results found Outside the BoxOpinion: Your stock portfolio soared on cheap market risk — but the easy money is overInvestors are waking up to the harsh realities and the financial penalties of a reordered, reactionary worldLast Updated: March 28, 2026 at 1:04 p.m. ETFirst Published: March 26, 2026 at 7:50 a.m. ETShareResizeListen(8 min)High prices at a gas station in Los Angeles on March 9. The Iran conflict is forcing investors to reckon with greater uncertainty and a riskier world. Photo: AFP/Getty ImagesThe Iran conflict underscores a growing risk for investors: With the end of globalization, prices for stocks, bonds and other assets will increasingly be determined by geography, security considerations and geopolitical alignment. The rules that underpinned financial-market stability in the past aren’t guaranteed anymore.For an example, look no further than the yawning gap in the spread between Brent BRN00 and West Texas Intermediate CL.1 crude oil. Global oil prices even after the Iran conflict ends are likely to carry a security-risk premium now that chokepoints and fragilities — such as the Strait of Hormuz, the gateway for about a fifth of the world’s shipped oil — have been revealed. The urgency to make energy supply chains more resilient across the globe will be an overriding priority. Show Conversation (0)Back To TopA Dow Jones CompanyCopyright © 2026 MarketWatch, Inc. All rights reserved.Terms of UsePrivacy NoticeCookie NoticeArchive MarketwatchCustomer CenterContact UsNewslettersNewsroom RosterVirtual Stock ExchangeMarketWatch GuidesCopyright PolicyManage NotificationsCancel My SubscriptionCompanyDow JonesCode of ConductCorrectionsReprints & LicensingDigital Self ServiceYour Ad ChoicesCorporate SubscriptionsAccessibilityDow Jones NetworkThe Wall Street JournalBarron'sInvestor's Business DailyFinancial News Londonrealtor.comMansion GlobalDow Jones Smart MoneyIntraday Data provided by FACTSET and subject to terms of use. Historical and current end-of-day data provided by FACTSET. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.