Daily Market Report – March 3, 2026
Tuesday, March 3, 2026 Stocks came under pressure worldwide in light of the war in the Middle East. Rising energy prices increase the risk of the economy slipping into stagflation. In Europe, the Stoxx Europe 600 INDEX:STOXX fell significantly and marked a multi-week low; losses were widespread across all sectors, with financial and travel stocks hit particularly hard.
The movement in Korea was the most striking: The Kospi KRX:KOSPI plummeted by over seven percent after trading resumed – the worst day since 2024. Ironically, the heavyweights that had supported Korea in this cycle fell sharply: Samsung Electronics KRX:005930 and SK Hynix KRX:000660 each dropped by around 10%, dominating the list of major global losers. European stocks fell significantly more than the stock markets in the U.S. due to Europe's high dependence on energy imports.
The price driver of the day remained oil: Brent (ICEEUR:BRN1!) and WTI (NYMEX:CL1!) surged by more than 7% at times, as traders priced in a prolonged disruption of transport routes and energy infrastructure.
In the interest and currency markets, yields rose – a reflection of the fear that higher energy prices would reignite inflation; the Dollar Index TVC:DXY increased. The day ended in an uncomfortable constellation: falling stocks, more expensive energy, and diminished hopes for interest rate cuts.