Evening Market Recap - Tuesday, 18-Mar

U.S. stocks sold off Wednesday as investors turned more risk-off amid renewed Middle East escalation, including attacks on Iranian energy infrastructure, retaliation threats against Gulf energy sites, and reports of a strike on a Qatari LNG facility. Markets also digested a hotter-than-expected February producer price report, which added to inflation concerns and pressured Treasuries. The Federal Reserve left rates unchanged as expected, but hawkish takeaways from Chair Jerome Powell’s press conference further weighed on sentiment.