Dow plunges 300 points while oil prices, Lockheed Martin jump amid Iran attacks, ‘uncertainty in the air’
By Taylor Herzlich
Published on March 2, 2026.
US stocks fell by 300 points on Monday morning as oil prices spiked and investor uncertainty grew amid US and Israeli air strikes on Iran. The Dow Jones Industrial Average fell by 0.6%, while the S&P 500 and Nasdaq each dropped. Gold futures rose 1.9% to $5,348.50 as anxious investors rushed to safe-haven assets. The volatility index also jumped to its highest level so far this year. The US and Israel killed Iran's Supreme Leader, Ayatollah Ali Khamanei, and a fourth US service member died from injuries sustained in the attacks. President Trump has warned that the conflict could last up to four weeks or so. However, most stocks, especially risky tech assets with AI ties, were negatively affected by the attacks, with shares in Broadcom, Amazon and Alphabet falling.
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