The US and Israel’s war against Iran has the financial markets under control at the start of the week.Image: Shutterstock
Mar 2, 2026, 7:11 amMar 2, 2026, 7:11 am
The stock exchanges in Asia are reacting with price losses and there are also signs of lower prices for the Swiss stock market as well as the most important European markets and Wall Street. In return, safe havens such as gold and the Swiss franc are sought.
For the Swiss Market Index (SMI), the broker IG indicated an opening loss of 1.17 percent at around 6:25 a.m. There are also signs of losses of just over one percent for the German DAX and the French CAC-40. For Wall Street, the futures currently indicate charges of a little less than one percent. In Asia, the Nikkei 225 and the Hang Seng in Hong Kong each lost more than 1 percent in the morning.
At the same time, oil prices are rising. Iran has restricted shipping traffic through the Strait of Hormuz, one of the most important choke points for global energy trade. Around a fifth of global oil shipments pass through the strait every day. Any disruption could send energy prices higher and unsettle international markets.
The states of the OPEC+ oil cartel decided on Sunday to increase daily production in order to prevent bottlenecks and excessive price increases. However, as Commerzbank had already warned in a comment before the start of the latest escalation, the OPEC+ countries do not have enough free production capacity to make up for a Hormuz blockade. For Europe, a prolonged high oil price is seen as an inflation risk and a possible growth dampener, as economists emphasize.
What’s next?
“While it is impossible to predict the exact course of the conflict, it is important to be aware of the significant risks, especially if the regime were to lose control of the unpredictable IRGC,” comments Tony Sycamore of broker IG. If the conflict subsides quickly, the oil price rise could prove short-lived and crude oil prices could head back towards $60.00, the trader added. However, a prolonged conflict would significantly increase the upside risks to crude oil prices.
Meanwhile, one of the most senior representatives of the Iranian leadership has ruled out negotiations with the US. Tehran will not negotiate with Washington, wrote the Secretary General of the Security Council, Ali Larijani, on Platform US President Donald Trump has plunged the Middle East into chaos, Larijani continued. Iran did not start the war and will continue to defend itself. After the killing of religious leader Ayatollah Ali Khamenei, Larijani is considered one of the key figures in the Iranian power structure.
During the night, the Lebanese Hezbollah militia fired several rockets at Israel, joining Tehran in the fight against its arch-enemy. Israel responded with bombings in the southern suburbs of the capital Beirut and other parts of its northern neighbor. At the same time, according to the army, Israel’s air force launched a new wave of attacks in the heart of Tehran. According to President Donald Trump, the US military is also continuing to attack Iran. (sda/awp)