U.S. Stock futures are trading lower Tuesday, March 3, 2026, as Iran escalated attacks against the U.S. And its allies in the Middle East, driving up oil prices and fueling inflation concerns.
With few signs of de-escalation in the conflict, crude oil is surging, extending gains from the previous session. A commander with the Islamic Revolutionary Guard Corps stated that the Strait of Hormuz, a critical global shipping lane for crude oil, is closed and that Iran would set ablaze any vessels attempting to pass through, according to Reuters, citing Iranian state media.
Inflationary worries have prompted investors to scale back bets on interest rate cuts by the Federal Reserve, with the first U.S. Rate reduction now priced in for September and expectations for a third cut in 2026 diminishing. This shift comes amid an already richly valued and volatile stock market, influenced by billions of dollars in corporate investment in artificial intelligence and concerns about the disruptive impact of the technology.
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United States
Attention is now focused on a series of key U.S. Economic data releases scheduled for later this week, including January retail sales, the ADP employment report, and the official non-farm payroll report, all closely watched by the market. The data will provide further insight into the strength of the U.S. Economy amid geopolitical uncertainty.
Investors will also be monitoring for further signals from the Federal Reserve, particularly given recent diverging views on the path of interest rates. Speeches are planned throughout the day from John Williams, a voting member of the Federal Open Market Committee, as well as Jeffrey Schmid and Neel Kashkari.
Here’s a look at the performance of futures markets:
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- Dow Jones Futures: -1.37%
- S&P 500 Futures: -1.31%
- Nasdaq Futures: -1.59%
Asia-Pacific
Markets across the Asia-Pacific region closed lower, as the conflict in Iran continued for a fourth consecutive day, negatively impacting risk appetite. The region’s sensitivity to global geopolitical events contributed to the widespread declines.
South Korean markets plummeted more than 7% upon the resumption of trading after a national holiday.
- Shanghai SE (China), -1.43%
- Nikkei (Japan): -3.06%
- Hang Seng Index (Hong Kong): -1.12%
- Nifty 50 (India): -1.24%
- ASX 200 (Australia): -1.34%
Europe
European markets are experiencing significant declines, with the geopolitical crisis in the Middle East continuing to weigh on global market sentiment. The escalating tensions are prompting investors to reassess risk exposure.
On the economic calendar, preliminary inflation data for the Eurozone is due, with expectations for a reading around 1.7% in February.
- STOXX 600: -1.82%
- DAX (Germany): -2.15%
- FTSE 100 (United Kingdom): -1.46%
- CAC 40 (France): -1.67%
- FTSE MIB (Italy): -2.36%
Commodities
Oil prices are climbing, extending strong gains from the previous session, as the conflict between the U.S. And Israel against Iran intensifies, with Tehran threatening to completely close the Strait of Hormuz and attacking the U.S. Embassy in Riyadh with drones. The potential disruption to oil supplies is driving the price increases.
Iron ore futures in China closed higher, as investors weighed increased freight costs due to the growing conflict with Iran, which is disrupting shipments through the crucial Strait of Hormuz, against a decline in demand amid production restrictions among Chinese steelmakers.
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- WTI Crude Oil, +3.55%, at $73.76 per barrel
- Brent Crude Oil, +3.82%, at $80.60 per barrel
- Iron ore traded on the Dalian exchange, +0.67%, at 753.50 yuan ($109.48)
Bitcoin
- Bitcoin (BTC), -2.34%, at $67,548.00 (compared to the quotation 24 hours ago)
(With Reuters and Bloomberg)
