Morning bid: Hormuz haze hits markets

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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};ge("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat($n)),notifLabel:document.querySelector(".".concat(Xn))};t.notifDropdown&&so(e,t)}))}()}};]]>By Mike DolanTue, March 3, 2026 at 12:37 PM GMT+1 4 min readBy Mike DolanMarch 3 -What matters in U.S. and global markets todayBy Mike Dolan, Editor-At-Large, Finance and MarketsDay three of the escalating Middle East war continues to rattle world markets and there are no signs yet of when or where the widening regional conflict may end - only ‌a running assumption that it will be measured in weeks and not just days.Energy prices remain the epicenter of the financial transmission, and crude oil ‌is climbing again as shipping, oil and gas installations and military and civilian targets are hit as Iran continues to retaliate to the weekend strikes.I’ll get into that and more below.But first, check out my ​latest column on what’s really driving the recent dollar rally.And listen to the latest episode of the Morning Bid daily podcast. Subscribe to hear Reuters journalists discuss the biggest news in markets and finance seven days a week.HORMUZ HAZE HITS MARKETSBrent crude hit a 14-month high and, at $82.37 per barrel, it's $10 higher than at Friday's close. U.S. crude hit 8-month highs at $75.55 per barrel, but markets are awaiting a planned government announcement on Tuesday on plans to offset the impact on U.S. consumers.The details of that are unclear but could include a ‌release of the U.S. Strategic Petroleum Reserve or some form ⁠of domestic subsidies.The bounceback in Wall Street stocks on Monday saw the S&P 500 return to opening levels, led by the tech sector. But that had the feel of programmatic trading hinged on 'buy the dip' models trained on the relatively short-lived energy price spikes seen ⁠in recent Middle East conflicts.And this one looks very different. Wall Street stock index futures are back down almost 2%. Stocks across Europe and Asia tumbled sharply today. Japan's Nikkei, the eurozone Stoxx index, and Britain's FTSE 100 all plunged about 3%, while South Korea's high-flying Kospi plummeted 7% on Seoul's return from holiday on Monday.Any thought of a safety bid in sovereign bonds has ​been ​quickly brushed aside too, with U.S. Treasury yields on the rise across the curve and the ​10-year now up 13 basis points from Friday's close.Markets are now ‌not expecting another Federal Reserve rate cut until September, and there are doubts about whether there'll be a second this year - with just 42bps of cuts priced in by December.Traders are also busily pricing out any possibility of another European Central Bank rate cut. Aggravating that picture was Monday's report showing U.S. manufacturers already registering a sharp spike in input prices in February to their highest levels since 2022 - even before this latest oil surge.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,877.38 +60.75 (+0.89%)Dow 3048,797.03 +295.76 (+0.61%)Nasdaq22,834.12 +317.43 (+1.41%)Russell 20002,641.64 +33.28 (+1.28%)VIX20.63 -2.94 (-12.48%)Gold5,146.80 +23.10 (+0.45%)Trending tickersBTC-USD Bitcoin USD 73,352.14 +4,989.05 (+7.30%)ASNS Actelis Networks, Inc. 0.5599 +0.3717 (+197.50%)COIN Coinbase Global, Inc. 209.80 +27.44 (+15.05%)NBIS Nebius Group N.V. 97.78 +10.97 (+12.63%)MSTR Strategy Inc 147.08 +14.40 (+10.85%)PortfolioSign in to access your portfolioSign inTop gainersMRNA Moderna, Inc. 59.05 +9.22 (+18.50%)STVN Stevanato Group S.p.A. 17.33 +2.60 (+17.65%)GLXY Galaxy Digital 24.35 +3.67 (+17.75%)COIN Coinbase Global, Inc. 209.53 +27.17 (+14.90%)SSRM SSR Mining Inc. 33.12 +4.19 (+14.48%)Top losersIBRX ImmunityBio, Inc. 9.18 -0.82 (-8.20%)GTLB GitLab Inc. 24.57 -2.13 (-7.98%)AXTI AXT, Inc. 38.73 -3.03 (-7.26%)FROG JFrog Ltd. 39.48 -2.76 (-6.53%)FSLY Fastly, Inc. 19.85 -1.28 (-6.07%)Most activeNVDA NVIDIA Corporation 183.39 +3.33 (+1.85%)PLUG Plug Power Inc. 2.3916 +0.1616 (+7.25%)ONDS Ondas Inc. 10.32 +0.30 (+2.99%)INTC Intel Corporation 45.84 +2.74 (+6.35%)NOK Nokia Oyj 8.13 +0.06 (+0.70%)Top economic eventsEarnings eventsMy earnings eventsEarnings events