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Stocks tumble as Wall Street fears a prolonged war with Iran
Global markets dropped amid fears of prolonged US-Iran conflict; oil prices surged over 15% since Friday, impacting airlines and boosting defense stocks, analysts said.
- On March 2, 2026 Wall Street tumbled as investors exited positions and Wall Street's main indices opened down more than one percent amid Iran war-driven volatility.
- Weekend U.S. and Israeli strikes prompted retaliatory attacks by Iran and Iran-backed groups as the Strait of Hormuz closed, disrupting about 20 percent of seaborne oil transit.
- Oil and gas markets spiked as Brent crude added $1.10 to $78.84 and U.S. crude rose to $74.71, while European gas prices surged over 50 percent after Qatar halted LNG output.
- Safe-Haven flows pushed the 10-year Treasury yield above 4.10% before easing to 4.06%, while gold fell to $5,123.70 as the dollar strengthened, noted Susannah Streeter.
- Analysts warn a longer energy shock fuels inflation and complicates central bankers' efforts, while traders are delaying Fed rate cuts forecasts into summer amid rising oil and geopolitical risks.
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Why the stock market thinks the Iran war will last 4 weeks, according to Goldman's head of oil research
The market is pricing in about a month of action in the Middle East, but experts warn triple-digit oil prices could become reality if war lasts even longer.
·New York, United States
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Sydney Morning Herald+2 Reposted by 2 other sources
ASX braces for heavy falls as global markets tumble; Oil prices surge
A war-induced selloff for stocks has slammed into Wall Street after wrapping around the world, as oil prices leaped even higher on worries about the widening war with Iran.
·Sydney, Australia
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Total News Sources297
Leaning Left36Leaning Right38Center126Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
L 18%
C 63%
R 19%
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