U.S. Stocks Close｜U.S. military urges Iranian civilians to stay away from the Strait of Hormuz, warning of potential attack targets. Oil prices rise 4%. Dow drops 289 points. Nasdaq remains steady.

U.S. Central Command issues warning to Iranian civilians, stating that the Iranian regime is using civilian ports along the Strait of Hormuz for military operations, threatening international shipping, and becoming legitimate military targets under international law. Oil prices rise again, with the Dow Jones dropping up to 520 points.

The Dow closed at 47,417 points, down 289 points; the S&P 500 retraced 0.08%, at 6,775 points; the Nasdaq slightly rebounded 0.08%, at 22,716 points. Oracle’s earnings and outlook exceeded expectations, with shares soaring 9.2%; Nvidia rose 0.7%.

Oil prices continue to climb, with New York crude settling at $87.25, up 4.55%; Brent crude settled at $91.98, up 4.76%.

Iranian media report that the Islamic Revolutionary Guard Corps issued a statement claiming that the Mayuree Naree was attacked after ignoring warnings from the IRGC Navy. According to shipping website marinetraffic, the Mayuree Naree is currently in the Strait of Hormuz.

The Associated Press quotes a military spokesperson: “The policy of proportional retaliation has ended; from now on, our policy will be continuous strikes. No oil shipment passing through the Strait of Hormuz will be allowed to benefit the U.S., Zionist regime, and their partners.”

However, Japan and other countries will release oil reserves. The International Energy Agency (IEA) issued a statement saying that its 32 member countries agreed on Wednesday (11th) to release 400 million barrels of emergency oil reserves into the market — the largest such release in history — to address the chaos in the oil market caused by the Middle East war.

Chubb Insurance will lead a U.S. government-backed plan to insure ships crossing the Strait of Hormuz. As part of a $20 billion initiative, Chubb will cooperate with the U.S. International Development Finance Corporation (IDFC) to help oil tankers and other commercial vessels resume navigation amid Iran war risks.

U.S. February inflation data met expectations, with overall CPI rising 2.4% year-over-year and increasing 0.1 percentage points to 0.3% month-over-month; core CPI held steady at 2.5% annually but slowed 0.1 percentage points to 0.2% monthly. Notably, this does not yet reflect the impact of soaring international oil prices due to the Middle East conflict.

The Trump administration reportedly will launch a trade investigation paving the way for new tariffs; The New York Times reports that after the Supreme Court rejected Trump’s tariff agenda, Washington will announce a series of trade investigations on Wednesday (11th) under Section 301 of the Trade Act, covering digital service taxes and alleged currency manipulation, marking an important step in rebuilding the “tariff wall.”

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Market Trends:

[21:30] Dow opens down 22 points at 47,683; Nasdaq up 0.3% at 22,765; S&P up 7 points at 6,788.

[19:04] Dow futures up 133 points; Nasdaq futures up 0.2%; S&P futures up 16 points.

[01:50] Dow futures up 121 points at 47,866; S&P futures up 18 points at 6,805; Nasdaq futures up 58 points or 0.2% at 25,041.

[12:47] [Iran Crisis] Oil prices rise; Fed stance shifts hawkish? US banks warn market may be misjudging the situation, with a significant rate cut still possible.

[10:48] [Iran Crisis] EIA forecasts Brent crude will stay above $95 for the next two months, expected to fall back to around $70 by year-end.

[09:53] NVDA — Nvidia partners with competitors of OpenAI, providing 1 gigawatt Vera Rubin chips to Thinking Machines.

[08:59] [Fed Chair] Republican Senator Thom Tillis meets with Waller, reiterates that before the Justice Department concludes its investigation of Powell, nominations will be blocked.

[08:31] [Iran Crisis] IEA reportedly proposes releasing over 180 million barrels of oil reserves; oil prices turn from rising to falling.

[07:45] [AI + Defense] Anthropic states its AI tools are blacklisted, potentially costing the company billions.

[07:25] [AI + ORCL] Oracle beats expectations, surges 8% after hours.

[06:26] [Iran Crisis] Iran plans to lay mines in the Strait of Hormuz; thousands in stock. Trump warns of unprecedented military consequences (updating).

Below $1: US stock market on March 10====

Tuesday: White House: US did not escort oil tankers through the Strait of Hormuz; Dow turns down 34 points; oil prices narrow losses

Market focuses on latest developments in Middle East, oil prices remain soft, and the Dow turns lower. U.S. Energy Secretary Chris Wright posted on social media that the U.S. Navy successfully escorted an oil tanker through the Strait of Hormuz, but the post was soon deleted. White House spokesperson Karoline Leavitt said the U.S. did not escort ships.

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Iranian IRGC responds: claims of U.S. military escort are lies; any actions by the U.S. and allies will be blocked within Iran’s missile and drone range.

Market hopes for an end to US-Iran conflict; Brent crude settles at $83.45, down 11.94%; WTI drops 3.4% to $88.

The Dow once rose 479 points but closed down 34 points at 47,706; S&P fell 0.21%; Nasdaq down 1.5%, at 22,061. The Golden Dragon Index, reflecting Chinese concept stocks, rose 1.96%.

U.S. Defense Secretary Pete Hegseth states that Tuesday was the most intense day of military actions against Iran, with the most fighters and bombers deployed. Chairman of the Joint Chiefs of Staff Gen. Milley says the U.S. is striking Iranian missile boats.

Hegseth describes this as a targeted, precise strike, not a prolonged “nation-building” war.

UAE oil refinery halted operations after drone attacks. Seven countries’ energy ministers (Canada, France, Germany, Italy, Japan, UK, US) held a meeting Tuesday to discuss releasing oil reserves. CNBC sources say the U.S. considers releasing 300-400 million barrels of oil appropriate.

Amazon is returning to the bond market; Bloomberg reports the company plans up to 11 tranches, with maturities from 2 to 50 years. The longest tranche — bonds maturing in 2076 — are preliminarily priced about 1.55 percentage points above U.S. Treasuries.

The dollar index drops 0.3%, to 98.93; U.S. 10-year Treasury yields stabilize at 4.159%. Gold rebounds 1.9%, at $5,206 per ounce.

Key stocks: Memory stocks rebound; Micron (MU) up 3.5%, back above $400; Sandisk (SNDK) up 5%.

Oracle (ORCL) will report earnings after market close.

JH Henderson Global Multi-Asset Team leaders Adam Hetts and Oliver Blackbourn warn that supply disruptions, rising oil and gas prices, and lack of clear cooling pathways increase inflation risks and market volatility. If conflict persists, economic pressures could deepen; but U.S. political considerations might quickly resolve the situation as a “victory” or rapid end, leaving asset outlook uncertain.

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Market Trends:

[21:30] Memory stocks rebound; Micron up 2%; Dow up 101 points; Nasdaq up 0.3%; oil prices retreat 8%.

[18:00] Dow futures up 101 points; Nasdaq futures up 0.3%; oil down 7%; Oracle reports earnings after hours.

[12:43] Dow futures down 183 points at 47,586; S&P futures down 24 points at 6,777; Nasdaq futures down 84 points or 0.3% at 24,906.

[12:09] [Apple] Apple reduces dependence on China; iPhone production in India now accounts for 25%.

[11:00] AI + Defense | Anthropic sues, demands U.S. DoD remove blacklist designation.

[10:31] [Iran Crisis] Trump says war will end soon; gold stabilizes and rebounds.

[08:28] [Iran Crisis] Several dozen oil tankers have reached the strait attempting to break through; Iran issues further warnings; Trump at press conference: war with Iran will end soon but no timeline promised (updating).

[08:26] [AI + NVDA] Nvidia reportedly plans to launch open-source AI platform “NemoClaw.”

[08:00] [Apple] Apple reportedly delays smart home display device launch, waiting for new Siri.

Below $1: US stock market on March 9====

Monday: Trump: War nearly over; oil prices plunge; Dow surges 239 points

US President Trump in an interview said the war is nearly over, describing it as very complete; Iran has no navy, no communications, no air force, only a few missiles left. Their drones are being destroyed everywhere, including drone manufacturing plants.

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Iranian IRGC responds: claims of U.S. escort are lies; any U.S. and allied actions will be blocked within Iran’s missile and drone range.

Market hopes for an end to US-Iran conflict; Brent crude settles at $92, with oil prices exceeding $111, triggering a G7 emergency meeting to discuss coordinated release of strategic reserves to counter Gulf conflict-driven price surges.

French Finance Minister Roland Lescure says G7 has not yet decided on releasing emergency oil reserves post-U.S.-Israel war.

Lescure, after G7 finance ministers’ online meeting in Brussels, told reporters, “Our consensus is to use all necessary means to stabilize the market if needed, including possible release of reserves.” He added that governments are closely monitoring the situation; no supply issues have emerged yet.

Japanese Finance Minister Shunichi Suzuki said, “IEA calls on countries to coordinate releasing oil reserves; given current circumstances, G7 agrees to continue closely monitoring energy markets and take necessary measures, including releasing reserves.” He also mentioned participation of OECD, World Bank, and IMF officials. G7 will soon hold a ministerial meeting on energy to discuss further steps.

As of 2022 data, IEA member countries’ emergency oil reserves under OECD control are estimated at over 1.2 billion barrels, mostly crude oil. IEA rules require all members to maintain emergency reserves equivalent to at least 90 days of net imports, ensuring at least three months of supply under normal consumption.

Market stabilizes; the dollar index falls 0.1% to 98.877; U.S. 10-year Treasury yields dip to 4.107%.

Gold prices narrow decline to 0.6%, at $5,138; silver rises 2.5%, to $86.63.

U.S. military continues demonstrating force; BBC reports U.S. B-52 and B-1 heavy bombers are stationed at Royal Air Force Fairford, UK, with three B-52s landing in one day — the first time B-52s have appeared in the UK since the conflict began.

B-52s, as typical “frontline deployment” aircraft, signal large-scale air campaigns or imminent escalation. As heavily armed “old bulls,” once enemy air defenses are weakened, B-52s can deliver massive conventional ground-attack munitions, targeting infrastructure, industrial sites, or large ground forces for sustained destruction.

Additionally, U.S. markets enter daylight saving time, opening one hour earlier at 9:30 p.m. Hong Kong time.

Swiss bank Julius Baer notes that the oil market has entered panic mode, with prices soaring into triple digits, mainly driven by market sentiment, as the conflict itself has not seen any substantial changes. So far, supply disruptions are mainly due to ships avoiding the Strait of Hormuz out of caution, causing trade blockages rather than military blockades. However, this week and beyond, Middle Eastern oil supply could face up to 75% shutdown.

The bank says it will continue to monitor the situation closely. No significant damage to energy infrastructure has been observed; Iran’s military power appears to be waning. Solutions to ensure shipping through the Strait of Hormuz remain feasible. Given the fog of war, it reaffirms a neutral stance on oil and natural gas, maintaining the expectation that energy prices will peak at current or slightly higher levels.

Hong Kong stocks and ADR markets are continuously updated, see: Next page

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Market Trends:

[18:20] U.S. stocks stabilize; oil surges over 10%, breaking $100; markets open one hour earlier for summer time.

[12:07] Dow futures down 1,006 points at 46,511; S&P futures down 130 points at 6,613; Nasdaq futures down 542 points or 2.2% at 24,127.

[12:07] [Iran Crisis] Iran conflict impacts markets; senior strategist Yardeni: probability of a market crash before year-end rises to 35%.

[11:15] Tencent reportedly plans to acquire Warner Bros. from Paramount, investing hundreds of millions.

[10:33] [Iran Crisis] Oil surges past $100, with WTI up 30%, amid production cuts by major Middle Eastern producers.

[10:20] [Iran Crisis] Oil prices spike, dragging down Asia-Pacific stocks; “Black Monday” hits Japan and Korea with declines over 7%; South Korea considers implementing oil price caps.

[09:56] [Iran Crisis] JPMorgan estimates Middle Eastern oil capacity may decrease by 4 million barrels daily by next weekend.

[09:50] [Iran Crisis] Schroders’ Alex Tedder: Oil may hit $100; “I won’t reduce energy holdings in next 2-3 years.”

[08:17] [Iran Crisis] Gold drops over 2%, testing $5,000; soaring oil prices intensify inflation fears.

[07:30] [Iran Crisis] Black Monday begins; oil prices surge 20%, approaching $111; Trump: low cost; Dow futures plunge 1,112 points (updating).

[07:30] [Global Outlook] Focus on Middle East conflict and U.S. inflation data; markets open one hour early.

[07:30] Concerns over oil supply disruptions and poor U.S. employment data; last Friday, Dow fell sharply, dropping 945 points to 47,009; VIX volatility index soared 21.6% to 28.88. Dow closed down 453 points; S&P down 1.33%; Nasdaq down 1.59%.

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US stocks last week, details at: [US stocks close] Iran fires missiles at “Lincoln,” Brent exceeds $92, employment data weak, Dow drops 453 points, Nasdaq down 1.6%.