Global news you need to know before the U.S. stock market opens on Wednesday

According to Xinhua News Agency, the fourth session of the 14th National Committee of the Chinese People's Political Consultative Conference has opened, with leaders of the Party and the country, including Xi Jinping, in attendance.

At the press conference of the National People's Congress: The key to technological development lies in the independent and controllable core technologies, and we will continue to expand domestic demand and formulate a childcare service law.

Iran has confirmed the candidates for the Supreme Leader! Israel: Any new leader will become a "target for elimination."

U.S. Treasury Secretary Janet Yellen: Oil supply is very sufficient, and we will contact shipowners regarding insurance issues in the coming days.

Federal Reserve Governor Michelle Bowman: I believe we are likely now one point above the neutral interest rate, and continuing to lower rates is appropriate.

Cleveland Fed President Loretta Mester: The impact of the Iran war is still difficult to assess, and I support keeping interest rates unchanged for an extended period.

In February, the U.S. ADP employment increased by 63,000, the largest increase since July of last year.

According to CCTV, the U.S. Defense Secretary stated that the U.S. and Israel aim to "completely control" Iranian airspace within a week.

The blockage of the Strait of Hormuz threatens the Middle East's food supply chain, and Iran has completely banned food exports.

Saudi Arabia's largest refinery is once again facing threats of attack and has taken action to export some crude oil via the Red Sea.

Following the world's largest LNG plant, a series of factories in the Middle East have closed or suspended operations.

The Governor of the Bank of Japan has not changed his stance on interest rate hikes but emphasized that the Iran conflict may have a significant impact on the economy.

Stock market crash! South Korea: If volatility intensifies, it will actively launch a market stabilization plan of 100 trillion won.

After a month of soaring again, reports indicate that Samsung Electronics has raised its Q1 DRAM price increase from 70% to 100%.

Benchmarking against Apple and Samsung! Xiaomi officially announces its self-developed SoC "annual upgrade" plan, intending to collaborate with Google's Gemini to create an international AI assistant.

COSCO Shipping: Due to the escalation of the Middle East conflict, we will suspend new booking services for related routes starting today.

The market assesses Trump's "escort" plan, U.S. stock index futures briefly turned positive, German stocks rose over 1%, South Korean stocks experienced a historic drop of 12%, oil prices rose over 3%, and silver increased by 5%. London aluminum reached a new high since 2022.

The Nikkei 225 index closed down 3.6%, the Shanghai Composite Index closed down 0.98%, and the Hang Seng Index closed down 2.01%