---
title: "BUZZ-Retailers, restaurants fall as oil surge continues"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/278430483.md"
datetime: "2026-03-09T17:50:52.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/278430483.md)
  - [en](https://longbridge.com/en/news/278430483.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/278430483.md)
---

# BUZZ-Retailers, restaurants fall as oil surge continues

Shares of retailers and restaurants were down sharply on Monday even as the S&P 500 (.SPX) pared early declines to show moderate losses Oil prices extended their recent surge, fanning worries about consumer spending, as the U.S.-Iraeli war against Iran raged on

The S&P 500 retail index (.SPXRT) was down 1.6%, while an S&P 1500 restaurants index (.SPCOMREST) was down 1.1%. The S&P 500 was last down about 0.5%

Consumer discretionary (.SPLRCD) , down 1.6%, was among the biggest sector decliners in the S&P 500 index on Monday. Consumer discretionary was down 1.4% last week

Shares of Estee Lauder (EL.N) were down 3.8%, while Best Buy (BBY.N) was down 2.9%, Target (TGT.N) was down 1.8% and Kohl’s (KSS.N) was down 6.7%. Among restaurants, Darden Restaurants (DRI.N) was down 2.5% and Chipotle Mexican Grill (CMG.N) was down 2.9%

Analysts have noted the potential negative impact of higher oil prices on consumer spending. Among them, Raymond James analyst Tavis McCourt wrote in a note late Sunday: “A simple rule of thumb is oil price up/down $20/barrel, is ~$150 billion tax on annual consumer spending.”

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