March 23rd: Countdown to Trump’s 48-Hour Iran Ultimatum

MPC Markets Morning Call · Mar 22, 2026 · 12m

Wall Street recorded its fourth consecutive weekly decline on Friday, with the S&P 500 falling 1.51% to a six-month low and breaking below its 200-day moving average for the first time since May. The Nasdaq shed 1.88%, the Russell 2000 tumbled 2.24%, and every major index now carries a “Strong Sell” technical signal on the daily and hourly timeframes. Oil surged 4.55% with Brent above $112 a barrel — up more than 50% since the Iran war began on 28 February — while gold recorded its worst week since 1983, falling 10.4% to $4,494 an ounce as safe haven flows abandoned the metal in favour of the…