U.S. stocks are under pressure with fresh risk-off positioning due to energy shock.

Oil prices have surged above $100/barrel as U.S.-Israel war with Iran drags into second week.

Key mechanism is supply/shipping disruption: Strait of Hormuz effectively closed, regional producers scaling back output.

Equities are struggling because market is trading oil, not war - elevated crude can change macro story fast.

Classic risk-off playbook: energy dominates, volatility front and center.

Investors watching if oil move feeds into rate expectations and stagflation fears.

Next macro milestone is February CPI report (March 11th), which matters more with surging energy prices.

Oil is driving the bus today; expect choppy, headline-driven trading until energy shock eases.