Stock Market News Today, 3/2/26 – U.S. Stock Futures Plummet amid U.S.-Israel Strike on Iran

U.S. stock futures plummeted early Monday amid escalating worries about the U.S. and Israel's joint strike on Iran over the weekend, which killed Iran's Supreme Leader Ayatollah Ali Khamenei. Fears of a broader Middle East conflict drove oil prices higher, lifting U.S. crude by 7.4% and Brent by around 8% as of this writing. Meanwhile, investors shifted funds to safe-haven assets, pushing gold futures up 3.42% amid rising demand.Claim 50% Off TipRanks PremiumUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down 1.39%, 1.01%, and 1.09%, respectively, at 5:34 a.m. EST on March 2. Geopolitical tensions are compounding an already fragile market environment. Stocks declined on Friday, with the S&P 500 closing February in negative territory amid pressure on AI and software stocks that soured sentiment. The S&P 500 fell 0.43%, the DJIA dropped 1.05%, and the Nasdaq 100 declined 0.30%. Investors fear the conflict could escalate into a full-scale war, disrupting supplies from Iran, one of OPEC's top producers. Leadership uncertainty in the country adds to the unease. The Strait of Hormuz, which is vital for global oil shipments, now holds the key. Any disruption in traffic there could spike energy prices further and reignite inflation. Turning to economic reports, investors await February's jobs report, unemployment rate data, retail sales, S&P Global Manufacturing PMI (Purchasing Managers' Index) data, and weekly jobless claims data, among others. On the earnings front, reports from notable companies, including CrowdStrike (CRWD), Rigetti Computing (RGTI), Target (TGT), Broadcom (AVGO), Marvell Technology (MRVL), and Costco (COST) are due this week. Notably, the U.S. 10-year Treasury yield was up, floating near 3.97%. WTI crude oil futures were trending higher, hovering near $72.03 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price increased to nearly $5,388 per ounce on Monday. Elsewhere, European indexes opened lower in reaction to the U.S.-Israel attack on Iran. Asia-Pacific Markets Trade Lower Asia-Pacific markets traded mostly lower on March 2, amid escalating Middle East tensions. Hong Kong's Hang Seng Index dropped 2.14%. In China, the Shanghai Composite rose 0.47%, while the Shenzhen Component lost 0.71%. Meanwhile, Japan's Nikkei declined 1.35%, and the Topix fell 1.02%.