---
title: "TACO"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/39453926.md"
description: "Currently, AI tech stocks are facing lower PE valuations due to rising oil prices, increasing inflation expectations, and rising 10-year US Treasury yields, which affect DCF discounting for tech stocks, making their prices cheaper now. Higher inflation will also increase operating costs, and if profits are affected, they will be hit as well. Therefore, the main contradiction in the US stock market currently is oil prices and the US-Iran war. News: Trump said on the 23rd that the US and Iran have had very good and productive talks over the past two days. He has ordered a halt to all military strikes on Iran's power plants and energy infrastructure for a period of 5 days. News: US-Iran negotiations have yielded results..."
datetime: "2026-03-23T13:23:33.000Z"
locales:
  - [en](https://longbridge.com/en/topics/39453926.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/39453926.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/39453926.md)
author: "[和伟大同行](https://longbridge.com/en/profiles/9681606.md)"
---

# TACO

![Image](https://pub.pbkrs.com/uploads/2026/eaae8a4483457dcc3aa0a16e43a2b5a0?x-oss-process=style/lg)

Currently, AI tech stocks are facing lower valuations due to rising oil prices, higher inflation expectations, and rising 10-year US Treasury yields, which require lowering the PE ratios of tech stocks in DCF discounting models, making their prices cheaper now. Higher inflation also increases operating costs, and if profits are affected, they will be hit as well.

Therefore, the main contradiction in the US stock market currently is oil prices and the US-Iran conflict.

News: Trump said on the 23rd that the US and Iran have had very good and productive talks over the past two days. He has ordered a halt to all military strikes against Iran's power plants and energy infrastructure for 5 days.

News update: US-Iran negotiations yield results, US suspends attacks on Iranian gas facilities for 5 days.

![Image](https://pub.pbkrs.com/uploads/2026/8a8c46b96d1ac51165ba9f573cbf3506?x-oss-process=style/lg)

![Image](https://pub.pbkrs.com/uploads/2026/6e72a5a93cf33d1bce9e26ddb443965d?x-oss-process=style/lg)

So oil prices are below 100.

![Image](https://pub.pbkrs.com/uploads/2026/a0b1e6d0ca83ff450436a1add085bfa5?x-oss-process=style/lg)

Bitcoin also immediately rose by 3%.

![Image](https://pub.pbkrs.com/uploads/2026/c8c12913d3ef215ab24bca4d71255839?x-oss-process=style/lg)

The US stock market also recovered from -1% to +1%, and ASML went from -4% to a 2% pre-market gain.

A 5% pullback from highs for the S&P 500 occurs on average every 14 months. Out of the past 60 such pullbacks, only 22 expanded further to over 10%, and only 10 eventually turned into 20% bear markets.

After WWII, in 20 major military conflicts, the S&P 500 fell by an average of about 6% from the initial shock to the low point. Moreover, in 19 out of those 20 cases, it returned to pre-event levels within an average of around 28 days. This means that historically, pure geopolitical conflicts more often lead to short-term valuation compression rather than long-term bear markets.

Therefore, the current US-Iran conflict presents a window of opportunity for US stocks, similar to the opportunity last year with tariffs + TACO. Those with ample funds can deposit from outside the market and buy in steps, provided you can survive, use low leverage, and stay at the table.

### Related Stocks

- [ASML.US](https://longbridge.com/en/quote/ASML.US.md)
- [TACO.US](https://longbridge.com/en/quote/TACO.US.md)
- [TACOU.US](https://longbridge.com/en/quote/TACOU.US.md)
- [TACOW.US](https://longbridge.com/en/quote/TACOW.US.md)