economy
March 5, 2026
Stock market falls resume as US-Israel war with Iran drives up oil and gas prices
FTSE 100 and France’s CAC down 1.5%; Germany’s DAX and Italy’s FTSE MIB down 1.6%; the Dow Jones was down 2%
TL;DR
- Market sell-off resumed in Europe and the US due to fears of no quick resolution to the Middle East conflict.
- Rising oil and gas prices triggered fears of renewed inflation and dampened hopes for interest rate cuts.
- Major European indices like FTSE 100, DAX, and FTSE MIB closed lower.
- US indices including the Dow Jones, S&P 500, and Nasdaq also traded sharply lower.
- Brent crude prices rose nearly 4% to nearly $85, with European gas prices up over 3%.
- Wizz Air shares dropped 11.3% after cancelling flights to and from the Middle East and warning of a significant profit hit.
- Treasury yields in the US were on track to rise for a fourth consecutive day.
- Market improvement is linked to the potential reopening of the Strait of Hormuz for oil and gas supplies.
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