James C. McGrath

SPACs are two-thirds of 2026's IPO market, so it's time to pay attention again. I tracked all 1,267 U.S. SPAC IPOs since 2013 (across $323BN) through merger, liquidation, or ongoing search, and computed total returns for 573 of the 596 completed de-SPACs, delisted names included. I don't think anyone else has tried to be this comprehensive. And the data tell a complex story.

The S&P 500 fell 1.9% last week, marking its fourth consecutive weekly decline as the conflict in Iran intensified. The index closed at 6,506.48, leaving it down 5.4% in March and 5% year to date. Escalating tensions, including increased U.S. military presence and continued disruption in the Strait of Hormuz, pushed oil prices higher and fueled inflation concerns.

The S&P 500 fell 1.6% last week, marking its third consecutive weekly decline as rising oil prices and geopolitical tensions weighed on markets. The index closed the week at 6,632.19, leaving it down 3.6% for March and 3.1% for the year. Equity sentiment was pressured by the escalating conflict between the U.S. and Iran, which pushed energy prices higher and heightened investor uncertainty.