02 March 2026 — Today’s Market News — Oil Jumps 7% as Strait of Hormuz Disruption Sparks Risk-Off
Markets in Turmoil: US-Israel Strikes on Iran Spark Oil Surge and Safe-Haven Exodus.
Markets turned risk-off after US-Israel strikes on Iran disrupted Strait of Hormuz flows, sending oil up 7% and reviving inflation fears. The Dow fell more than 500 points while gold gained and energy stocks surged. All eyes now shift to U.S. jobs data for the next catalyst.
Today’s Snapshot
• Dow Jones: 49,499.20 (-521.28 pts, -1.05%)
• Nasdaq Composite: 22,878.38 (−210.17 pts, −0.92%)
• Tehran Stock Exchange (TEDPIX): 3618000.00 (-466 pts, -0.01%)
• Gold: $5,277.9/oz (+2.2%)
• Silver: $93.84 (+2%)
Global Markets
Global Markets
(A) Precious Metals
Gold: $5,277.9/oz (+2.2%)
Gold went up by 2.2% mainly because investors are worried about rising tensions between the U.S., Israel, and Iran. When global risk increases, people move their money into safe assets like gold.
Silver: $93.84 (+2%)
Silver rose as escalating Middle East tensions increased safe-haven demand across the white metal.
(B) Energy
Brent Crude: 78.36/bbl. (+7%)
Brent crude went up about 7% because fears of conflict in the Middle East spiked oil market anxiety. Reports show that military strikes involving the U.S. and Israel and retaliatory actions by Iran have disrupted shipping around the Strait of Hormuz, a vital oil transit route that carries about 20% of the world’s oil supply. With tanker traffic slowing or stopping in the area, traders worried that global oil supply could tighten, and that pushed Brent prices sharply higher today.
(C) FX
Dollar Index (DXY): 97.71 (-0.1%)
The dollar slipped slightly due to month-end portfolio rebalancing and profit-taking. The move was flow-driven, despite firm inflation data supporting a higher-for-longer rate outlook.
USD/JPY: ~ 156.11 (−0.1%)
USD/JPY moved slightly lower as the U.S. dollar weakened and investors adjusted positions. However, the pair stayed near the mid-150s because U.S. interest rates remain much higher than Japan’s, which continues to support the dollar against the yen.
(D) Stock Market — What Happened Today
U.S Equities
- Dow Jones: 49,499.20 (-521.28 pts, -1.05%)
- Nasdaq Composite: 22,878.38 (−210.17 pts, −0.92%)
U.S. stocks fell as rising tensions in the Middle East pushed oil prices higher and increased inflation worries. Investors became cautious and sold tech and growth stocks, leading to a broad market decline.
Major Movers:
Energy Sector
• Exxon Mobil: +2.67%
• Chevron: +1.41%
• ConocoPhillips: +2.49%
These energy stocks rose because oil prices jumped sharply following escalating tensions between the U.S., Israel, and Iran. The conflict raised concerns about supply disruptions through the Strait of Hormuz, a key global oil shipping route. When oil gets more expensive, companies that produce oil make more money from every barrel they sell.
Defence sector
• Lockheed Martin: +2.5%
• RTX (Raytheon): +2.1%
• Northrop Grumman: +1.90%
Defense stocks went up because tensions between the U.S., Israel, and Iran increased fears of a wider conflict. When war risk rises, governments spend more on weapons, missiles, and military equipment.
Volatility & Positioning
The VIX closed at 19.86, showing cautious market sentiment. Investors are increasing hedging and staying defensive due to economic uncertainty and rising geopolitical tensions.
What Traders Are Watching
- U.S. Jobs Data — Critical for Fed policy timing and yield direction.
- Oil Supply Risks — Strait of Hormuz stability and potential OPEC+ response.
- AI-Led Equity Volatility — Further earnings revisions or downgrades could intensify sector rotation.
Latest Available Market News — February 27, 2026
Global equities declined as Nvidia’s 5.5% drop pressured AI-linked stocks, with the Nasdaq down 1.18%, the S&P 500 off 0.54%, and Hong Kong’s Hang Seng falling 1.44%.
Catch up on: Nvidia’s 5.5% slide drags global tech lower from prior session levels
Sources
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