The S & P 500 has dropped 4.2% in March, with oil prices rising and new economic data indicating rising inflation. However, Barclays, the bank's strategist, Ajay Rajadhyaksha, argues that while geopolitical tensions remain high, the market sees an "eventual de-escalation" on the horizon. He also noted that there are signs that the conflict will be short-lived, with the December 2027 futures contract on West Texas Intermediate rising by about $10 to $11 since the start of the war. The S&P 500 remains less than 6% from its record high above 7,000 reached earlier this year.