Everything red. The Ibex 35 loses more than 7.2% in just two sessions due to the Iran conflict. If Wall Street held up in the last session, the news that impacted with the closure of the Strait of Hormuz, and therefore both trade and 30% of the world’s oil that transits through it paralyzed, has caused a new shock in the market generally, with the United States falling sharply in its futures since the beginning of the session and confirming and sharpening its trend at the opening.
All this has caused a greater bearish reaction for European markets, and specifically for an Ibex 35 not only banked but full of securities to which the rise in oil and its effects: higher inflation for consumer countries, less potential growth and a delay in lowering rates by central banks could be an unappealable blow.
Companies for which costs will rise across the board, especially those related to energy and transportation and, even, those highly indebted that see how yields could even rise with more expensive debt and more expensive financing, such as renewables or telecoms, do the rest.
In this way the selective has suffered its biggest drop since the one experienced in April 2025 on account of tariffs while It is contained above the level of 17,000 points. All stocks, with the exception of Repsol, lose positions.
Another direct consequence for the indicator is its negative positioning, since not only has it lost everything it gained in the first two months of the year in which, remember, it has scored up to 16 historical highs in 2026 from which it is clearly moving away and from which it loses 6.8%. It is also placed with decreases that exceed 1% in the year for the first time in 2026.
The IBEX 35 closes on Tuesday with decreases of 4.55% to 17,662.40 points with the cuts of values such as Acciona 11.77%, Solaria 10.46% and Acerinox 9.46% and the increases of Repsol alone of 3.29%.
As we say again, the oil company is the main protagonist of the session, given the exponential rise in oil, which in the chaos of Brent has exceeded 85 dollars per barrel, at levels not seen in recent years. In fact, Repsol shares gain for the thirteenth consecutive day.
Already in the rest of Europe, generalized falls in the indicators with larger cuts in Italy and Germany and to a lesser extent, despite the strong amount of declines for Paris and London, due to the compositions of their indices.
In this way, at the market close, the EURO STOXX 50 fell 3.62% to 5,774 points, the Dax cuts 3.49% to 23,813 points, the CAC 40 of Paris gives up 3.46% to 8,103 points and the FT 100 in London fell 2.77% to 10,481 points.
Already on Wall Street, the falls that did not materialize yesterday have come to completely flood the indicators with red today. The closure of the Strait of Hormuz and its completion, fundamental for this decline that continues in the American mid-session.
Added to this is also a prolonged duration of the conflict that sows sales to the indicators with a Dow Jones that loses more than 1,000 points.
In the business sphere, not even oil and defense companies can sustain themselves. On the energy side, Exxon Mobil fell 1.8%, ConocoPhillips lost 0.20% and Chevron fell 0.34%.
Lockheed Martin, which yesterday achieved a new all-time high, fell 1.69%. Northrop Grumman and RTX also move negatively.
Outside of the war conflict in Iran, today the retailer Target presented its accounts. In its fiscal fourth quarter, the company posted adjusted earnings per share of $2.44, compared to the $2.16 expected by analysts. Revenues reached $30.45 billion, compared to the $30.48 billion expected by the market.
Best Buy advances 5.4% after putting on the table some Adjusted earnings per share of $2.61 in the fourth quarter, better than the earnings of $2.47 per share that analysts anticipated.
In this way, the DOW JONES Ind Average rises 0.13% to 38,976 points, the S&P 500 gains 0.24% at the close of the Spanish stock market and the Nasdaq OMX advances 0.35% to 16,306 points.
In fixed income, yields are tightening and they are rising strongly again with the Spanish 10 bond that is trading at 3.233% with increases of 3.09% and the German bund places its profitability at 2.7783% while advancing 2.6%. The risk premium ends the day at 45.91 basis points and rises a hefty 8.7%.
Oil barrel futures are the main protagonists today with increases again after the closure of the Strait of Hormuz. Brent gained 7.56% to $83.63 and West Texas gained 7.93% to $76.88.
So far this year, the reference barrel in Europe has gained 37.8%.
Meanwhile, Gold makes a strong stop along the way, due to the rise of the dollar. It is trading at $5,120 with drops of 3.6%.
For its part, the Euro Dollar is exchanged for 1.1585 units, with a drop in the single currency of 0.90%, while it is in its largest decline in just two days since September 2022, while Bitcoin cuts 1.54% to $68,398 per asset.