By William Collins, consultant in stock markets – Eurasia Business News, March 5, 2026. Article no 2043
The Dow Jones Industrial Average skidded 1.6%, or 785 points, while the S&P 500 fell 0.6% and the Nasdaq composite declined 0.3%.
Brent crude, the global energy benchmark, climbed above $85 a barrel while U.S. crude jumped 8.5% to $81.01, its highest price since July 2024 and its biggest one-day jump since 2020.
As the fourth-largest OPEC oil producer, the impact of Iran’s reduced production capabilities has wide-ranging effects across commodities and stocks, with concerns that surging oil prices might force the Fed to evaluate interest rates in a volatile market.
U.S. Treasury yields rose for a fourth day in a row, with higher oil prices casting doubt on the prospect of immediate interest-rate cuts. The benchmark 10-year Treasury yield (US10Y) rose 4 basis points to 4.14%, while the 2-year Treasury yield (US2Y) gained 3 basis points to 3.59%.
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On the U.S. economy, U.S.-based employers announced 55% fewer job cuts in February, down 72% from a year ago, according to the Challenger, Gray & Christmas report. Also, the U.S. Department of Labor reported that initial jobless claims held at 213K for the week ending on Feb. 28.
Gold was trading a little above 5,100 dollars per ounce, while silver was around 82 dollars per ounce, both near historically very elevated levels due to the Iran‑related geopolitical shock.
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© Copyright 2026 – Eurasia Business News. Article no. 2043
Eurasia Business News 