The S&P 500 closed Wednesday’s session down 0.084% at 6,775.80, extending its losses as a historic release of strategic oil reserves failed to cool surging crude prices.
The Polygon-based (CRYPTO: POL) Polymarket crowd is leaning significantly bearish heading into Thursday. The March 12 market currently shows only a 12% chance of traders betting on an “Up” opening. Early trading volume for the March 12 bet has reached $26,319.
Why That Number Matters?
Energy markets continue to dictate the narrative. Despite the IEA authorizing a record 400-million-barrel release of emergency reserves, WTI crude jumped 8.45% to $94.62, at the last check, after Iran reportedly struck three more cargo vessels in the Strait of Hormuz.
Beyond energy, a new turmoil in private credit markets emerged in the financial sector. Reports that JPMorgan Chase & Co.
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