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S&P 500 Struggles Near 6900 as Oil Surge and Iran Crisis Hit Markets
The current geopolitical tensions, which originated in the Middle East and are spreading rapidly to other parts of the globe, have begun to paint stock markets red. Investors, who were optimistic at the beginning of 2026 that the year would be profitable, are now apprehensive about the future. This is mainly because the S&P 500 (SPX) is still struggling to cross the formidable 6,900–6,950 resistance zone. The index is currently facing a “geopolitical fatigue” with recent drops of 0.9–1% amid intraday swings up to 2.5%.
The seriousness of the situation is emphasized by the volatility index (VIX), which has spiked to above 23.00, indicating that the period is one of elevated market volatility and increased anxiety among investors. High VIX is inversely proportional to the S&P 500 (SPX), which is the case now. The increased hedging activity of market makers is preventing the index from breaking the resistance line and moving higher.
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