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:

• Consumer Discretionary - Real Estate Services company Opendoor (NASDAQ: OPEN) fell 4.2%. Is now the time to buy Opendoor? Access our full analysis report here, it’s free.
• Consumer Discretionary - Broadcasting company AMC Networks (NASDAQ: AMCX) fell 3%. Is now the time to buy AMC Networks? Access our full analysis report here, it’s free.
• Consumer Discretionary - Wireless, Cable and Satellite company Comcast (NASDAQ: CMCSA) fell 4.2%. Is now the time to buy Comcast? Access our full analysis report here, it’s free.
• Consumer Discretionary - Leisure Facilities company Vail Resorts (NYSE: MTN) fell 4.1%. Is now the time to buy Vail Resorts? Access our full analysis report here, it’s free.
• Consumer Discretionary - Toys and Electronics company Mattel (NASDAQ: MAT) fell 4%. Is now the time to buy Mattel? Access our full analysis report here, it’s free.

Zooming In On Opendoor (OPEN)

Opendoor’s shares are extremely volatile and have had 115 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.

The previous big move we wrote about was 2 days ago when the stock gained 4.4% on the news that the price of oil fell and concerns eased regarding potential supply chain disruptions from the conflict in Iran. A barrel of benchmark U.S. crude dropped 4% to $94.75, alleviating some economic pressure. This, combined with abating fears over a prolonged closure of the Strait of Hormuz, helped fuel a broad market rally. The S&P 500 jumped 1.2%, putting it on track for its best day in five weeks, while the Dow Jones Industrial Average and the tech-heavy Nasdaq also saw significant gains. The positive sentiment was widespread, with technology, consumer discretionary goods, and real estate companies leading the advance as investors reacted to the improved macroeconomic outlook.

Opendoor is down 13.7% since the beginning of the year, and at $5.24 per share, it is trading 50.2% below its 52-week high of $10.52 from September 2025. Investors who bought $1,000 worth of Opendoor’s shares 5 years ago would now be looking at only $195.45.

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