Late-night U.S. stocks surged, chip stocks rebounded collectively, Western Digital rose over 7%, and the U.S. Defense Secretary said the U.S. will have "full control" of Iranian skies within a week.

As of March 4 Beijing time, all three major U.S. stock indexes opened higher across the board. As of 23:29 Beijing time, the Nasdaq rose 1.46%, the Dow rose 0.61%, and the S&P 500 index rose 0.85%.

Europe’s major stock indexes rebounded. As of 23:30, the UK FTSE 100 rose 0.75%, and the French CAC40, the German DAX, and the Italian FTSE MIB all rose by more than 2%.

Large-cap tech stocks collectively turned positive. Amazon and Tesla rose by more than 3%, META rose by more than 2%, and Nvidia rose by more than 1%.

Chip stocks rebounded. Western Digital rose by more than 7%, Micron Technology rose by more than 5%, and NOVA, Intel, Applied Materials, AMD, and others followed higher.

AI application software stocks rose sharply across the board. Applovin rose by more than 6%, and Datadog rose by more than 5%,

Oil stocks pulled back. Exxon Mobil, ConocoPhillips, and Chevron all fell by more than 1%.

China concept stocks were mixed. The Nasdaq China Golden Dragon Index rose 0.84%, Zai Lab rose by more than 7%, XinYang and NIO rose by nearly 4%, and XPeng Motors rose by more than 2%; Su Xiantang Pharmaceutical and Dingdong Fresh, among others, led the declines.

Spot gold and silver prices both rose by more than 1% during the day. Spot gold was quoted at 5145 dollars per ounce; spot silver was quoted at 83.4 dollars per ounce.

After international oil prices fell during the day, they moved higher in the short term. WTI crude oil was quoted at 74.63 dollars per barrel, and Brent crude oil was quoted at 81.75 dollars per barrel.

Cryptocurrencies continued to climb. Bitcoin rose to 72878.2 dollars, with its intraday gain once reaching 8.51%; Ethereum rose to 2130.88 dollars, up 9% over the past 24 hours.

U.S.-listed crypto-related concept stocks surged in sync. Figure rose by more than 10%, Strategy rose by more than 8%, and Coinbase rose by more than 11%.

On the news front, according to Xinhua News Agency, U.S. Defense Secretary Hegseth said on March 4 at a press conference that the United States and Israel would “fully control” Iran’s sky within a week. He also said a U.S. military submarine sank an Iranian naval vessel in the Indian Ocean.

According to Xinhua News Agency, on March 4, a source in the Sri Lankan Navy said that the Iranian Navy frigate “Denna” was reportedly attacked by a submarine in waters south of Sri Lanka, and it may have caused 100 deaths.

Wang Yinggui, a professor at the Faculty of Finance at University of Macau, believes that the duration of the U.S.-Iran war is now exceeding market expectations and may trigger what could be “the largest oil crisis in many years.” It would not only seriously disrupt global energy supply and push up inflation, but also affect the direction of monetary policies of major economies. In extreme situations such as the long-term closure of the Strait of Hormuz, it could lead to a global economic recession.