Stocks Suffering From Middle East Conflict Escalation

Stocks are struggling today, with the Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) each down triple digits at last glance, as oil prices continue to weigh. Brent crude is hovering around $115 per barrel, spiking after President Donald Trump threatened to “massively blow up" Iran’s South Pars field if Iran continues to attack Qatar.

The spread between international standard Brent and U.S. standard West Texas Intermediate (WTI) is now at its highest level since 2020. Micron Technology (MU) earnings and inflationary pressures are also blowing headwinds today, while weekly jobless claims came in at 205,000, below the 215,000 estimates. 

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• Plus, natural gas bulls pounce; oil stock stays hot; and a C-suite shakeup for SOUN.

Cheniere Energy Inc (NYSE:LNG) is seeing increased activity in the options pits today. At last look, over 24,000 calls have changed hands, volume that's 11 times the average intraday amount and more than triple the number of puts exchanged. The March 290 call expiring tomorrow is the most popular, with the January 15, 2027 240-strike call and April 300 call are also buzzing. LNG stock is up 9% to trade at $292.45, as liquefied natural gas takes advantage of rising oil prices. The shares earlier hit a record high of $299.49 and are 50% higher year to date.

APA Corporation (NASDAQ:APA) stock is brushing off the broad market weakness, last seen up 5.5% to trade at $38.61. The oil and gas name earlier hit a two-year high of $39.30, and is up 58% this year already, enjoying momentum from surging crude prices. 

SoundHound AI Inc (NASDAQ:SOUN) stock is near the bottom of the tech pile today, down 5.9% to trade at $6.96, after the automation company announced a CFO transition, with Nitesh Sharan to vacate the post on April 3 and James Hom appointed as interim. SOUN is now trading at its lowest level since April, and is down over 33% in 2026.