Dow sinks 600 points as Wall Street fears a prolonged war with Iran
Published on March 3, 2026.
The Dow fell by 600 points, or 1.2%, amid concerns that a prolonged conflict with Iran could escalate further. The S&P 500 and the Nasdaq also fell by 1.35%. Wall Street's fear gauge, the VIX, surged 12% and hit its highest level in three months. Stocks in Europe and Asia were also lower, with Europe's Stoxx 600 dropping 3.1%, Japan's Nikkei 225 falling 3.06%, and South Korea's Kospi index falling 7.24%. Military action in the region has intensified, with Israel reportedly conducting simultaneous strikes in Tehran and Beirut. US embassies in Saudi Arabia and Kuwait have been hit in strikes amid Iranian bombardment. Oil prices have risen by 5.9% to $75.40 per barrel and gas prices 11 cents higher.
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