What Happened?

A number of stocks fell in the afternoon session after a combination of hot inflation data and geopolitical turmoil rattled investor confidence. 

The Producer Price Index (PPI) surged 0.7% in February, more than doubling economist estimates of 0.3%. This spike in wholesale costs, driven by rising tariffs and manufacturing inputs, signaled a shift toward structural, "sticky" inflation that may persist longer than anticipated. Anxiety intensified as Brent crude jumped 4% to $108 a barrel following reports that Israel struck a major Iranian gas facility. With Iran threatening retaliatory strikes on Gulf energy infrastructure, Wall Street increasingly priced in a scenario where rising energy costs flow directly to consumers. 

The selloff deepened as the Federal Reserve maintained interest rates at 3.5% to 3.75%, explicitly citing the "uncertain" economic impact of the escalating Middle East conflict. While the Fed signaled one potential cut later in the year, Chair Jerome Powell admitted that progress on inflation had been slower than hoped, dousing dreams of a more aggressive pivot. This hawkish caution, reflected in the Dow's drop and 1% declines in the S&P 500 and Nasdaq, suggests that monetary easing may be delayed deep into the third quarter.

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:

• Professional Staffing & HR Solutions company Alight (NYSE: ALIT) fell 4.7%. Is now the time to buy Alight? Access our full analysis report here, it’s free.
• Traditional Media & Publishing company Sinclair (NASDAQ: SBGI) fell 6.1%. Is now the time to buy Sinclair? Access our full analysis report here, it’s free.
• IT Distribution & Solutions company Insight Enterprises (NASDAQ: NSIT) fell 6.9%. Is now the time to buy Insight Enterprises? Access our full analysis report here, it’s free.
• Electronic Components & Manufacturing company Amphenol (NYSE: APH) fell 5.8%. Is now the time to buy Amphenol? Access our full analysis report here, it’s free.
• Terrestrial Telecommunication Services company Cogent (NASDAQ: CCOI) fell 4.5%. Is now the time to buy Cogent? Access our full analysis report here, it’s free.

Zooming In On Insight Enterprises (NSIT)

Insight Enterprises’s shares are not very volatile and have only had 7 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.

The previous big move we wrote about was 8 days ago when the stock dropped 2.5% on the news that geopolitical developments in the Middle East took center stage, with volatile crude oil prices dictating market direction. According to one strategist, "Everything is beginning and ending with headlines out of the Middle East." U.S. stocks reversed from positive to negative territory, demonstrating the market's sensitivity to the situation. While comments from the U.S. President briefly caused crude prices to plunge, they pared losses and clawed back to $90 per barrel. The uncertainty surrounding the conflict and its direct impact on oil prices trumped most other news, creating a volatile and risk-averse environment for investors.

Insight Enterprises is down 12.3% since the beginning of the year, and at $73.60 per share, it is trading 54.1% below its 52-week high of $160.42 from March 2025. Investors who bought $1,000 worth of Insight Enterprises’s shares 5 years ago would now be looking at only $770.95.

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