Daily Market Report – March 2, 2026

The Iran war led to significant losses in the stock markets in Europe on Monday, March 2, 2026. The Stoxx 50 TVC:SX5E closed at 5987 points, down -2.47%, while the Dax TVC:DEU40 ended the trading day at 24638 points, down -2.56%. The shock comes through energy prices and thus through the inflation side. Brent (ICEEUR:BRN1!) and WTI (NYMEX:CL1!) surged at times, supported by reports of production and logistics disruptions as well as concerns about a possible blockade of the Strait of Hormuz, through which around 20 million barrels of oil are transported daily, or roughly one-fifth of the world's consumed barrels. Surprisingly, the S&P 500 TVC:SPX and the Nasdaq 100 TVC:NDX are trading in positive territory today. The Dollar Index TVC:DXY also showed strength, as investors often seek refuge in the U.S. during times of war.

Travel and airline stocks fell sharply – in Germany, Lufthansa XETR:LHA and TUI XETR:TUI1 dropped by almost 12% in pre-market/early trading – while defense stocks were in demand (including Rheinmetall XETR:RHM). The rotation out of mobility and cyclical stocks and into energy/defense was particularly pronounced in the German market. The key questions are: How long will oil remain expensive – and when will geopolitical risk turn into a macroeconomic brake? And: Will the stock market in the U.S. remain as stable as it is today?