04:47 PM EDT, 03/13/2026 (MT Newswires) -- The Standard & Poor's 500 index fell 1.6% this week, its third consecutive weekly decline, as oil prices continued to climb amid turmoil in the Middle East.

The S&P 500 ended the week at 6,632.19. It is now down 3.6% in March and has fallen 3.1% this year.

As the US-Iran war neared the two-week mark, most sectors of the S&P 500 fell.

The energy sector bucked the decline as Brent crude, the global benchmark, reached its highest settlement value since August 2022. The climb in crude oil futures came even as the US began allowing countries to buy sanctioned Russian crude already at sea.

Adding to investors' concerns, government data showed Q4 gross domestic product was lower than previously estimated amid weaker consumer spending and a larger downturn in exports. The report showed US real gross domestic product came in at a 0.7% annualized growth rate in the December quarter; Wall Street expected growth to match the initial 1.4% estimate, according to a survey compiled by Bloomberg.

The financial sector had the largest percentage drop of the week, falling 3.4%, followed by a 3.2% loss in industrials and a 3% decline in consumer discretionary. Health care, materials, real estate, communication services, technology and consumer staples also fell.

Fiserv ( FISV ) and Global Payments ( GPN ) were hit hardest in the financial sector, sliding 10% each. FactSet Research Systems ( FDS ) shares fell 9% as Deutsche Bank cut its price target on the stock to $275 per share from $335.

Top decliners in industrials included Axon Enterprise ( AXON ) , down 14%, and Equifax ( EFX ) , down 11%.

Ulta Beauty ( ULTA ) was the worst performer in consumer discretionary, tumbling 17%. The beauty products retailer reported fiscal Q4 earnings per share below analysts' mean estimate and forecast fiscal 2026 EPS below Street views.

Just two sectors managed to post weekly gains: Energy climbed 2.1% while utilities eked out a 0.4% increase.

Occidental Petroleum ( OXY ) had the largest percentage increase in energy, rising 6.8%, followed by a 5.5% gain in APA (APA). Both stocks received price target increases from Barclays.

Next week, Dollar Tree (DLTR), Micron Technology (MU), FedEx (FDX) and Carnival (CCL) are among the companies releasing quarterly results.

Economic data will include the February producer price index as well as February industrial production and pending home sales. Also, the Federal Open Market Committee will hold a two-day meeting concluding with a decision on interest rates.