CoinWorld News reported, ME News reported, on March 30 (UTC+8), Paul Chew from HSBC Securities Research stated that, with oil prices continuing to rise, the S&P 500 index still has room for further decline. Since the outbreak of the Middle East conflict, the index has fallen 7.9% from its peak. He pointed out that during the Gulf War and the Russia-Ukraine war, the index declined by 17% respectively. Chew added, "The market still has room to fall further, especially as oil prices continue to climb."