On March 2nd, the sudden escalation of tensions in the Middle East triggered intense volatility in global markets, with funds flooding into safe-haven assets. On Monday morning in Asia, spot gold and silver opened higher across the board, international oil prices surged by as much as $8, and U.S. stock index futures generally declined.

Spot gold rose to $5,374 per ounce, up 1.8%; spot silver was at $96 per ounce, up 2.6%. International oil prices jumped sharply, with Brent Crude briefly reaching $82.37 per barrel and WTI Crude Oil rising to $80.82 per barrel. Markets are concerned that escalating US-Iran conflict could impact shipping through the Strait of Hormuz, which accounts for about a quarter of global oil shipping.

In the U.S. stock market, the three major index futures opened lower, with Nasdaq and Dow futures down over 1%, and S&P 500 futures down more than 0.9%. Capital flowed into traditional safe-haven assets such as U.S. Treasuries, gold, and Swiss francs.

Several institutions warned that if oil prices continue to rise to the $90–100 per barrel range, inflationary pressures could re-emerge, and the Federal Reserve may be forced to adjust its rate-cutting path. Some strategists pointed out that global stock market valuations are currently high, and combined with geopolitical shocks, short-term “risk-off” trading may dominate the market.

The market generally believes that the future trend will depend on whether shipping through the Strait of Hormuz remains smooth and whether the conflict becomes prolonged. If energy transportation remains substantially unaffected, risk assets may stabilize temporarily; but if the situation continues to escalate, with oil prices and inflation expectations rising in tandem, global stocks and emerging market assets will face greater pressure. $BTC