[Pre-market US Stocks] US futures continue to decline; Dow futures down 225 points, Nasdaq futures down 0.9% (updating)

U.S. stock futures continued to decline before Wednesday’s market open, with Dow futures down 225 points at 48,335, S&P 500 futures down 41 points, and Nasdaq futures down 212 points or 0.9%, at 24,543.

Today, the U.S. will release MBA mortgage applications, MBA 30-year fixed mortgage rate, February ADP employment change, February ISM Services Index, and February Services PMI final reading.

Hong Kong stocks and ADR markets are continuously updating. For details, see: Next page

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Market Trends:

【13:35】Dow futures down 225 points, at 48,335; S&P 500 futures down 41 points; Nasdaq futures down 212 points or 0.9%, at 24,543.

【12:32】US Stock Analysis|Iran Situation Causes Dow to Drop Nearly 1,300 Points — Analysis: Telecom stocks to watch, lagging stocks to consider

【11:59】【Oil Price Trend Analysis】Oil prices rose another 1% to hover at high levels — Trump administration offers insurance for oil tankers — Analysis: NYMEX crude resistance at $80

【11:45】【Iran Crisis】Tensions in the Middle East shake Asia-Pacific markets — South Korean stocks drop over 9%, triggering circuit breakers — Japanese stocks fall over 2,000 points

【11:31】【AI + Models】OpenAI releases GPT-5.3 Instant — more accurate and smoother conversational experience

【10:21】【Gold Price Trend】Gold and silver rebound sharply after rapid decline — Gold surpasses $5,100 in Asia — Silver rebounds 3% to $85

【08:49】【Iran Crisis】Fed officials cite war as new uncertainty in monetary decisions — Energy prices become key factor

【07:23】【Iran Crisis】Trump: Cut trade with Spain, end the war, oil prices will be lower than before

【06:51】【Iran Crisis】Islamic Revolutionary Guard: Blockade of the Strait of Hormuz for 3 weeks, global economy faces serious crisis (updating)

Below $1: U.S. stock market on March 3====

Tuesday: Trump offers insurance guarantees + naval escort for oil tankers — Dow only down 403 points

Fourth day of Iran conflict, stock movements follow Iran news; due to the blockade of the Strait of Hormuz, oil prices surged 9.5%, reaching $77.98; Dow dropped as much as 1,277 points or 2.6%, low at 47,626; S&P 500 fell 2.5%, low at 6,710; Nasdaq dropped 2.7%, low at 22,124.

See U.S. market close:

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Trump announced that he would provide insurance guarantees for ships passing through the Strait of Hormuz, which could restore oil transportation and stabilize prices. U.S. stocks narrowed losses, with the Dow closing down only 403 points or 0.8%, at 48,501; S&P 500 down 0.9%, at 6,816; Nasdaq down 1%, at 22,516.

Oil prices rose 5% at the close, with NYMEX crude at $74.65 and Brent crude at $81.72.

Trump announced on social platform Truth Social that he ordered the U.S. International Development Finance Corporation (DFC) to provide political risk insurance and guarantees at very reasonable prices for all maritime trade in the Gulf region, especially energy shipments. This service will be available to all shipping companies.

He also indicated that if necessary, the U.S. Navy will begin escorting oil tankers through the Strait of Hormuz as soon as possible.

“Regardless, the U.S. will ensure the free flow of energy worldwide. America’s economic and military strength is the strongest on Earth — more actions are coming.”

The U.S. dollar index rose as much as 1.3%, then settled to a 0.7% gain, at 99.04. The 10-year U.S. Treasury yield remains around 4%.

Gold prices continued to decline, down 4.3%, at $5,094.87; silver fell 8%, at $82.23.

Manulife noted that recent rises in global bond yields may reflect market concerns about a resurgence of inflation and worries about future central bank decisions. However, if the conflict persists for more than a few weeks, its impact on markets and the economy could become more significant.

Pictet Wealth Management in Switzerland said that in the very short term, the Iran war will negatively impact stocks due to geopolitical uncertainty and soaring oil prices. However, history shows such negative effects are usually short-lived. Investors are advised to prioritize tangible assets — including gold, metals, and other commodities.

The firm indicated that if the conflict remains short-term, oil prices could return to pre-crisis levels, and the overall macroeconomic impact would be limited. However, in the short term, central banks may adopt a more cautious stance. The Federal Reserve might delay future rate cuts, depending on the duration and severity of the conflict. As long as the scope of the conflict remains limited, the dollar could strengthen temporarily, given the U.S.'s relative energy independence. If new oil shocks occur, markets might see the U.S. as more resilient than Asian countries heavily dependent on oil imports.

Hong Kong stocks and ADR markets are continuously updating. For details, see: Next page

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Market Trends:

【13:27】Dow futures down 336 points, at 48,609; S&P 500 futures down 49 points, at 6,839; Nasdaq futures down 215 points or 0.9%, at 24,809.

【11:41】【Iran Crisis】Franklin D. Roosevelt CEO: As long as other Middle Eastern countries do not retaliate, conflict is unlikely to last more than five weeks

【11:19】【Iran Crisis】Oil prices rose another 1% early — Analysis: The conflict is expected to be short-lived — NYMEX crude at $70-75, gold to retreat after easing

【10:50】【AI + Competition】OpenAI users launch boycott movement — Anthropic Claude surpasses ChatGPT — becomes top app in U.S. Apple App Store

【10:46】【AI + Defense】Sam Altman: Add clauses with the Department of Defense — clarify AI cannot be used for surveillance of U.S. citizens — OpenAI services will not be used by defense intelligence units

【10:36】【U.S. Tariffs】U.S. Court of Appeals rejects government’s request to delay tariff refunds — refunds can proceed quickly

【10:10】【AI Frontline】Elon Musk’s X and xAI reportedly plan to raise $17.5 billion to pay off debt

【09:02】【Iran Crisis】Liu Biao: Will push plans to curb oil price surges — Trump administration reportedly has no plans to use strategic petroleum reserves for now

【08:39】【Fed Rate Cuts】Yellen: Iran crisis impacts U.S. economy and inflation — likely to make Fed more cautious about rate cuts

【08:19】【U.S. Economy】JPMorgan’s Jamie Dimon warns inflation could be a “party pooper” for the U.S. economy after “cockroach theory”

【08:08】【AI + NVDA Chips】U.S. considers restricting NVIDIA H200 chip sales — limit of 75,000 units per Chinese company

【07:25】【Iran Crisis】Trump: Four main targets in Iran — U.S. Department of Defense reports firing tens of thousands of missiles over two days, including ground-launched missiles from the U.S. (updating)

Below $1: U.S. stock market on March 2====

Monday: Trump says conflict progressing faster than expected — Nasdaq up 0.4% — Anthropic “crashed,” NVIDIA jumps 3%

Due to many users switching from OpenAI to Anthropic, Anthropic experienced a crash. Since Anthropic is mainly paid service, the crash indicates strong growth in paying users, potentially boosting revenue, but also reflecting insufficient computing power. Nvidia (US: NVDA) surged 3%, closing at $182.48, boosting the Nasdaq.

See U.S. market close:

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Trump held a press conference stating that the initial estimate for the war is 4 to 5 weeks, and the current progress is far ahead of expectations. For example, the original estimate was 4 weeks to dismantle Iran’s military leadership, but in reality, the U.S. achieved this in about an hour, so overall progress is much faster than expected. However, he did not set a time limit, saying, “No matter how long it takes, we will do it.”

Israel and the U.S. continue bombing. Due to ongoing war, European and Middle Eastern countries are mediating a ceasefire, reducing war risk premiums. The U.S. dollar index rose 1%, to 98.55; gold prices rose 2.7%, reaching a high of $5,419.11, then up 0.9% at $5,325; spot silver fell 7.7%, to $86.54. The 10-year U.S. Treasury yield remains high at 4.03%.

Under the shadow of war, the Dow once fell 599 points, low at 48,377; closed down 73 points at 48,904; the S&P 500 rose 2 points, at 6,881; Nasdaq gained 0.4%, at 22,748.

Oil prices surged sharply, Brent crude up 13% to a high of $82.37, closing up 7.2% at $78.12; NYMEX crude up 12.4%, high at $75.33, closing up 6.4% at $71.33.

In key stocks, global markets were generally affected by turbulence, but Palantir (US: PLTR) surged 5.8% as its Ontology technology integrates satellite imagery, communication monitoring records, and other information to significantly improve decision-making during US-Iran conflict.

U.S. Secretary of Defense Pete Hegseth said the timing of military actions against Tehran will be decided by President Trump.

Invesco’s global research chief Benjamin Jones expects that stock markets will decline in the short term after the conflict, but the subsequent trend depends on how the situation develops. Most impacts are expected to be reflected through rising oil prices. Cyclical and consumer sectors may be more affected, while defense, energy leaders, and gold mining stocks are expected to benefit from geopolitical shocks.

This week’s key data will focus on February unemployment rate and non-farm employment figures.

Hong Kong stocks and ADR markets are continuously updating. For details, see: Next page

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Market Trends:

【22:30】Iran crisis drags stocks down, Dow drops 495 points, Nasdaq down 1.3%, Palantir up 3% against the trend

【18:10】Iran crisis causes Dow futures to fall 570 points, Nasdaq futures down 1.3%; oil surged 10%, gold back above $5,400

【15:44】NYMEX crude up 8.6% to $72.79; Brent crude down 9.1% to $79.49

【15:28】Dow futures down 640 points, at 48,360; S&P 500 futures down 94 points, at 6,794; Nasdaq futures down 438 points or 1.8%, at 24,566

【12:31】Dow futures down 369 points, at 48,631; S&P 500 futures down 50 points, at 6,838; Nasdaq futures down 206 points or 0.8%, at 24,798

【11:52】【Iran Crisis】Jungli Henderson Investment: Current oil prices reflect a “limited scale, short duration” conflict scenario

【11:48】【Iran Crisis】UAE stock market closed for two days; UAE government announces full coverage of stranded travelers’ expenses

【11:25】【Iran Crisis】Middle East conflict disrupts energy markets — Economists warn of increased global risks — the countries most affected…

【10:50】【Iran Crisis】If the Strait of Hormuz closes for a month, Goldman Sachs warns European natural gas prices could surge 130%, crude oil could rise by $15

【10:09】【Major Bank Views】UBS cuts U.S. stock ratings to “in line with the market” for six reasons — still optimistic on emerging markets, selects four key countries

【08:06】【Oil Price Trend】Iran crisis causes oil prices to soar — Brent up over 8% — Strait of Hormuz shutdown

【07:50】【Gold Price Trend】Gold rises nearly 2%, back above $5,300; silver up over 2% — Middle East war sparks safe-haven buying

【07:30】【Iran Crisis】Bloomberg estimates oil could rise 49% — Trump: Qasem Soleimani and three Americans killed, fighting continues until goals are achieved (updating)

【07:30】【Global Weekly Preview】Focus on geopolitical developments and U.S. employment data — February unemployment rate expected to hold at 4.3%

【07:30】U.S. stocks fell last Friday. Major financial stocks plunged, with American Express down 8%, Goldman Sachs down 7%, dragging Dow down 521 points to 48,977; S&P 500 down 0.4%, at 6,878; AI stocks continued to be pressured, NVIDIA down 4%, dragging Nasdaq down 0.9%, at 22,668.

See U.S. market close:

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