US EditionWall St Slips on Fears of Protracted Iran Conflict
Investors moved to safe havens as airlines dropped over 3% and defense stocks rose up to 19%, amid fears of prolonged conflict disrupting trade and boosting inflation.
- On March 2, 2026, Wall Street's main indexes fell as the Dow Jones Industrial Average dropped 355.68 points to 48,622.24, the S&P 500 lost 40.14 points to 6,838.74, and the Nasdaq Composite fell 139.42 points to 22,528.79.
- After weekend strikes that killed Tehran's Supreme Leader, Israel launched retaliatory attacks following strikes by Iran and Hezbollah, raising fears of regional widening and pushing crude prices up over 8%.
- Defense contractors rallied while the S&P 500 financial index fell 1%, with Bank of America and Citigroup trading lower and Lockheed Martin, RTX, Kratos, and AeroVironment gaining over 3%.
- Wall Street's fear gauge, the CBOE VIX, jumped 3.1 points to a three-month high of 21.96, while investors moved into safe havens such as the dollar and helped Kinross Gold and Harmony Gold gain 1% each.
- A sustained oil-price spike threatens to amplify inflation as U.S. tariffs push prices higher, and Wells Fargo's Ohsung Kwon warned the S&P 500 could fall nearly 13 per cent if crude surpasses $US100 per barrel.
23 Articles
23 Articles
By John Towfighi, CNN. Global stocks remained volatile for a second straight day on Tuesday, falling as investor concerns grew that the escalating conflict in the Middle East could worsen. The Dow Jones Industrial Average dropped 723 points, or 1.47%, paring some losses after plunging more than 1,200 points earlier. The tech-heavy S&P 500 and Nasdaq Composite each fell 1.35%, partially recovering from declines of more than 2%. Wall Street's fear…
The New York Stock Exchange was evolving in the red on Monday in the face of the war in the Middle East, the values of defense and energy pulling their pins from the game, while those of the air and tourism are plummeted.
US stock market: Wall Street set to open over 1% lower as US-Iran conflict fuels risk-off mood
US stock futures indicate a weak market start as key indices decline amid escalating tensions in the Middle East. The US and Israel's attack on Iran sparked retaliation, impacting airlines and banks negatively while boosting defence and oil stocks.
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