Global Markets: US stocks mixed, European stocks mostly down, Nvidia up nearly 3%, Silver plunges

U.S. Stock Market: The three major indices closed mixed on March 2. By the close, the Dow Jones Industrial Average fell 73.14 points to 48,904.78, down 0.15%; the S&P 500 rose 2.74 points to 6,881.62, up 0.04%; the Nasdaq Composite gained 80.65 points to 22,748.86, up 0.36%.

Most large tech stocks rose, with Nvidia up nearly 3%, Microsoft up over 1%, Apple, Tesla, Netflix, and Meta slightly higher; Google fell over 1%, Intel and Amazon slightly down.

In earnings news, MongoDB reported Q4 revenue of $695.1 million, up 27% year-over-year; subscription revenue was $673.1 million, up 27%, service revenue was $22 million, up 26%. MongoDB dropped over 20% after hours.

Oil and gas stocks mostly rose, with ConocoPhillips up over 4%, EOG Resources up over 3%, Western Oil up over 2%. Nvidia invested $2 billion each in optical tech companies Lumentum and Coherent, which rose over 11% and 15%, respectively. Cryptocurrency concept stocks gained, with Figure up over 17%, Circle up over 15%, Strategy up over 6%.

Most popular Chinese concept stocks declined, with the Nasdaq Golden Dragon China Index down 1.08%. TSMC fell 1.46%, Alibaba down 1.08%, Pinduoduo down 0.88%, JD.com down 0.68%, NIO down 3.08%, Baidu down 0.71%, Ctrip down 2.17%, Tencent Holdings (ADR) down 0.23%, ASE Technology down 0.37%, Luckin Coffee (ADR) down 1.52%.

European Markets: All three major European indices declined on March 2. The FTSE 100 in London closed at 10,780.11, down 130.44 points or 1.2%; France’s CAC 40 closed at 8,394.32, down 186.43 points or 2.17%; Germany’s DAX closed at 24,672.4, down 611.86 points or 2.42%.

Commodities Market: International oil prices rose on March 2. At the close, NYMEX WTI crude futures for the current month increased $4.01 to $71.03 per barrel, up 5.98%. COMEX gold futures rose $88.00 to $5,335.9 per ounce, up 1.68%. COMEX silver futures fell $3.68 to $89.61 per ounce, down 3.95%. Spot gold increased $42.90 to $5,322.12 per ounce, up 0.81%. Spot silver decreased $4.48 to $89.36 per ounce, down 4.77%.

Overnight Headlines

Iran Claims Strait of Hormuz Has Been Closed, Will Target All Ships Attempting Passage

According to reports, late on March 2 local time, a senior advisor to the Iranian Islamic Revolutionary Guard Corps (IRGC) stated that the Strait of Hormuz has been closed, and Iran will target all ships attempting to pass through. The IRGC has not yet issued an official statement.

Trump Says Military Action Against Iran Could Last 4 to 5 Weeks

On March 2 local time, U.S. President Trump said that a nuclear-armed Iran is unacceptable to the U.S. and that the U.S. continues large-scale military operations in Iran. The goals are very clear: destroy Iran’s missile capabilities and prevent Iran from acquiring nuclear weapons. Trump stated that military action could last 4 to 5 weeks, but he is prepared for the operation to extend well beyond that.

U.S. Tariff Litigation Returns to Trade Court, Refund Procedures May Accelerate

On March 2 local time, an appeals court in the U.S. sent back several lawsuits that previously invalidated President Trump’s tariffs to the U.S. International Trade Court, which has the authority to decide on refunds of tariffs paid by importers. Importers had previously requested that, once the case was under the court’s jurisdiction again, Trump’s administration be ordered to start refund procedures immediately.

Nvidia Expands Ecosystem: Invests $2 Billion Each in Two Optical Tech Companies

On Monday, March 2, Nvidia announced on its website that it has reached strategic agreements with Lumentum and Coherent, investing $2 billion in each. Nvidia stated that it has a multi-year strategic agreement with Lumentum to accelerate innovation in advanced optical technologies, including R&D, to enable next-generation AI infrastructure and system design.

SpaceX Executive: “Starship” Test Flight Nears, Moon and Mars Are Both Important

At the Mobile World Congress in Spain, a SpaceX executive provided the clearest timeline yet for the commercial maiden flight of the next-generation rocket. Michael Nicolls, Senior Vice President of Starlink, said Starship will be ready to align with the schedule to launch upgraded Starlink mobile communication satellites by mid-2027.

Apple Launches iPhone 17e: Starting at 4,499 RMB, Same Price, More Features Than 16e

On March 2, Apple announced the new entry-level iPhone 17e and a new M4-powered iPad Air, kicking off the product launch season. According to Apple’s website, pre-orders for the iPhone 17e will begin at 10:15 PM Beijing time on March 4, with official sales starting March 11. Available in light pink, white, and black, with 256GB and 512GB storage options, priced at 4,499 RMB and 6,499 RMB respectively.

AI “Layoff Wave” Hits Global Systemically Important Banks: Mizuho to Cut 5,000 Jobs

Amid Wall Street’s buzz over fintech company Block’s layoffs of nearly half its staff “in the name of AI,” similar stories are emerging elsewhere. Japan’s Mizuho Financial Group plans to cut up to 5,000 of its approximately 15,000 transaction roles over the next decade by investing in AI to improve efficiency. Starting from the new fiscal year in April, Mizuho will rename its Transaction Group to “Process Design Group,” aiming to reinforce the consensus on reshaping business processes through AI.

Germany and France Issue Joint Statement to Strengthen Nuclear Cooperation

On March 2, Germany and France issued a joint statement saying they will enhance cooperation in the nuclear field. The statement notes that, in the spirit of the Aachen Treaty’s Article 4, both countries will strengthen collaboration in nuclear deterrence to address evolving threats.

MWC 2026: AI Reshaping Communication Networks, 6G “Positioning War” Accelerates

As AI model parameters are no longer the main focus, and large models in phones and cars become routine, the real competition in the telecom industry is returning to the network itself. On the first day of MWC, a reporter from Yicai observed that the most prominent keywords in the exhibition were not “generative AI,” but “AI Native,” “AI-Centric Network,” “Autonomous Network,” and “6G Evolution.”

Middle East Tensions Worsen, Impact on Aviation Industry, Global Travel Stocks Hit Hard

As conflicts escalate between the U.S., Israel, and Iran, widespread flight disruptions, key Middle Eastern hubs closing, and soaring oil prices have caused a sharp decline in global travel and airline stocks on Monday. Analysts warn that the impact could last for weeks. Data shows that over the past three days, at least 4,000 flights have been canceled worldwide, affecting travelers from Brazil to the Philippines.

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