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Stocks tumble as Wall Street fears a prolonged war with Iran
- 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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ASX set to fall sharply as global markets tumble; Oil prices surge
A selloff for stocks is slamming into Wall Street after wrapping around the world, as oil prices leap even higher with worries that the widening war with Iran may do more sustained damage to the economy than feared.
·Sydney, Australia
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The war in Iran led to the closure of the Strait of Hormuz, through which about 20 percent of the world's oil passes and the same amount of liquid natural gas (LNG), mostly from Qatar, one of the world's largest producers of this energy.
·Belgrade, Serbia
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Total News Sources280
Leaning Left33Leaning Right34Center119Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
L 18%
C 64%
R 18%
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