What Happened?
A number of stocks fell in the afternoon session after escalating geopolitical tensions in the Middle East sparked a surge in oil prices and a sharp drop in consumer confidence.
The conflict's impact on global energy supplies sent Brent crude, the international benchmark, soaring. This spike fueled concerns about a new wave of inflation, a worry reflected in recent consumer surveys. The University of Michigan's latest report revealed that consumer sentiment plummeted in March, as households brace for higher prices. This bleak economic outlook had investors on edge, pushing major indices like the Dow and S&P 500 into a steep selloff and toward a fifth consecutive losing week. The situation also shifted expectations for Federal Reserve policy, with markets pricing in delayed rate cuts to combat rising inflation.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Oilfield Services company Atlas Energy Solutions (NYSE: AESI) fell 4.8%. Is now the time to buy Atlas Energy Solutions? Access our full analysis report here, it’s free.
- Mixed or Offshore Upstream E&P company Centrus Energy (NYSE: LEU) fell 5.2%. Is now the time to buy Centrus Energy? Access our full analysis report here, it’s free.
- Mixed or Offshore Upstream E&P company Solaris Energy Infrastructure (NYSE: SEI) fell 4%. Is now the time to buy Solaris Energy Infrastructure? Access our full analysis report here, it’s free.
- Infrastructure company New Fortress Energy (NASDAQ: NFE) fell 9.6%. Is now the time to buy New Fortress Energy? Access our full analysis report here, it’s free.
Zooming In On New Fortress Energy (NFE)
New Fortress Energy’s shares are extremely volatile and have had 122 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
New Fortress Energy is down 42.1% since the beginning of the year, and at $0.64 per share, it is trading 93.1% below its 52-week high of $9.28 from March 2025. Investors who bought $1,000 worth of New Fortress Energy’s shares 5 years ago would now be looking at only $14.92.
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