The S&P 500 is down roughly 4% since the Iran conflict started in late February. Crude oil is up over $100 a barrel because of supply chain issues in the Strait of Hormuz. This is pushing energy and defense stocks higher, but it's weighing on growth stocks like NVDA. JPMorgan put out some data showing inflation is a top concern again due to rising gas prices. They also noted falling approval ratings for the economy and the current administration. Analysts think we are at a fork in the road. If oil infrastructure gets destroyed and prices spike further, the market will likely take a hit. If a ceasefire agreement is reached, we could see a recovery similar to the brief rally we saw in late March.