stocks

WASHINGTON — The United States plunged further into conflict with Iran on Tuesday as a new round of strikes heightened fears of an expanding war in the Middle East, sending markets reeling and oil prices soaring and drawing urgent calls from European leaders for a plan forward.

President Trump acknowledged during an Oval Office appearance that the public would feel some economic pain as fighting continues to threaten areas that are critical to the world’s oil and natural gas production.

“As soon as this ends, those prices are going to drop, I believe lower than ever before,” Trump said, though he did not provide a clear time frame for when the conflict might end.

As the war stretched into its fourth day on Tuesday, Israel struck Iranian missile launch facilities and weapon factories and Iran retaliated across the Persian Gulf region, including attacks on U.S. diplomatic sites in Saudi Arabia, Kuwait and Dubai.

The conflict simultaneously set off alarms in the global markets, prompting stocks in Europe and Asia to plunge and the S&P 500 to drop nearly 1% after falling as much as 2.5% in early trading.

European governments were also forced to contend with the fallout, with some countries increasing their military presence in the region as their actions are closely monitored by Trump, who publicly singled out countries that he thought had been helpful in his war efforts so far.

“Spain has been terrible,” Trump told reporters in the Oval Office while threatening to “cut off all trade with Spain” after he said the country had denied American forces access to its military bases.

Trump said he was “not happy with the U.K. either” and complained about not being allowed to use a military base on Diego Garcia in the Chagos Islands. Without access to that military base, Trump said American planes were forced to fly “many extra hours.”

“We were very surprised. This is not Winston Churchill that we’re dealing with,” Trump said. Churchill served as Britain’s prime minister during World War II.

As Trump threatened European allies, he sat next to German Chancellor Friedrich Merz, underscoring the fraught landscape that world leaders are navigating as American and Israeli forces work to destroy Iran’s missile capabilities and nuclear program and eye a potential change in government.

During their meeting, Trump said Germany has allowed the United States to use its air bases. Beyond that help, Trump said, “we’re not asking them to put boots on the ground or anything.”

When asked by reporters how Germany intended to help in the conflict, Merz said he wanted to focus on talking to Trump about what comes “the day after” the war ends.

“We are on the same page in terms of getting this terrible regime in Iran away and we will talk about the day after, what will happen then, if they are out,” Merz said.

Trump talks about regime change options

Trump did not have much to say yet on what will come next and was unclear on who will lead the Iranian government, saying that U.S. and Israeli military operations had killed the people who he thought could have filled the leadership vacuum.

“Most of the people we had in mind are dead,” Trump said. “Now, we have another group, but they may be dead also based on reports so I guess you have a third wave coming in and pretty soon we’re not going to know anybody.”

His remarks were a startling acknowledgment in part because minutes earlier he said the worst-case scenario in his mind was that the military operation would take place and “then somebody takes over who is as bad as the previous person.”

“That could happen,” Trump said.

Asked if Crown Prince Reza Pahlavi, son of the former shah, is someone he would like to run the country, Trump said he is a “very nice person,” but did not say for sure whether he is his choice.

The president and his top aides have offered varying explanations when asked about regime change, drawing criticism from Democrats and some conservatives who are demanding to know why Americans are being dragged into a war with no clear end in sight.

On Saturday, when U.S. and Israeli forces first struck Iran, Trump said overthrowing Iran’s theocratic regime was part of his rationale. But on Monday, he emphasized that Iran’s missiles posed a threat to the United States, and therefore theattack was carried out to eradicate its missile capability and nuclear program.

After briefing lawmakers Monday afternoon, Secretary of State Marco Rubio told reporters that the United States launched a “preemptive” attack on Iran because officials knew Israel was going to strike the country — a move that he said would have put U.S. forces at risk and led to even more U.S. casualties. As of Tuesday, six American troops have been killed in combat.

House Speaker Mike Johnson (R-La.), after being briefed by Trump administration officials on Monday afternoon, said, “Israel was determined to act in their own defense, with or without American support.”

“If Israel fired upon Iran, and took action against Iran to take out the missiles, then they would have immediately retaliated against U.S. personnel and assets,” Johnson told reporters.

Trump disputed the suggestion that Israel’s plans to attack Iran prompted him to launch the strikes, saying it was the other way around.

“If anything, I might have forced Israel’s hand,” Trump said Tuesday. “But Israel was ready, and we were ready, and we’ve had a very, very powerful impact because virtually everything they have has been knocked out.”

But it was unclear how far along the U.S. military is in accomplishing its mission.

In a letter Monday, Trump told Congress that while the “United States desires a quick and enduring peace, it is not possible at this time to know the full scope and duration of military operations that may be necessary.”

Senate Minority Leader Chuck Schumer (D-New York) warned in a speech on the Senate floor that the administration’s murky strategy is not good for the country.

“History teaches us a simple lesson: Wars without a clear objective do not stay small. They get bigger, they get bloodier, they get longer, they get more expensive,” Schumer said. “This is not a defensive war. This is not a necessary war. This is a war of choice.”

The latest attacks on the region

Tuesday saw yet another expansion of the war when Israeli troops blitzed into Lebanon in a bid to dislodge the Iran-backed Shiite militant group Hezbollah.

The ground invasion comes one day after Hezbollah lobbed rockets and drones at an Israeli military position across the border; an attack, the group said, that was vengeance for the killing of Iranian Supreme Leader Ayatollah Ali Khamenei and a response to Israel’s near-daily violations of a ceasefire brokered by the U.S. in November 2024.

The attack sparked a massive Israeli assault on dozens of villages and towns in southern Lebanon, as well as on the southern suburbs of the Lebanese capital, Beirut. The strikes killed 40 people, wounded 246 others and saw tens of thousands forced to leave their homes and scramble for shelter in Beirut and elsewhere, according to Lebanese authorities.

The Lebanese army said Tuesday that it was withdrawing from positions in southern Lebanon ahead of a ground incursion by Israeli troops. The Israeli military’s Arabic-language spokesman then issued a warning to residents of some 80 towns and villages in that region to “immediately evacuate your homes” and move northward.

Hezbollah, meanwhile, maintained a defiant stance and continued rocket and drone launches into Israel.

“The era of patience has ended, and we have no option but to return to resistance,” said Mahmoud Qatari, who chairs Hezbollah’s Political Council. “If Israel wants an open war, so be it.”

The invasion comes more than a year after Israel occupied parts of southern Lebanon in 2024. After the ceasefire came into effect, Israel withdrew from most parts of the country save for five positions near the border. Yet in the 15 months since the ceasefire was signed, it has proved to be more notional for Lebanon, with Israeli warplanes and troops conducting well over 10,000 truce violations, according to the U.N.

Israel says its actions are to stop Hezbollah from reconstituting itself near the border, but the result has meant residents of border towns and villages in southern Lebanon have been unable to return home.

Israel’s military spokesman, Brigadier Gen. Effie Defrin, said in a statement that troops were “creating a buffer” inside Lebanon between residents in northern Israel “and any threat.”

As the conflict has escalated, some 1,600 Americans stranded across the region have requested assistance and the Trump administration is trying to help evacuate them, Rubio said. But the effort has faced challenges because Iranian missiles have struck many Mideast airports.

“We know we are going to be able to help them,” Rubio said. “It is going to take a little time because we do not control the airspace closures.”

Ceballos reported from Washington, Bulos from Khartoum, Sudan.

The US-Israeli military campaign that began on Saturday has already killed Iran’s Supreme Leader Ali Khamenei and senior commanders, triggered retaliatory strikes across the region and raised the spectre of prolonged disruption to global energy flows.

ADVERTISEMENT

ADVERTISEMENT

While diplomats scramble and the UN calls for restraint, certain defence contractors and energy majors have emerged as early market victors.

As the conflict enters its fourth day, demand for advanced weaponry, missile-defence systems and intelligence platforms is projected to surge.

Lockheed Martin’s stock, the world’s largest defence contractor by revenue, hit a new all-time high on Monday, closing at $676.70 after rising over 4%.

Its F-35 fighters, precision munitions and radar systems are central to the air campaign under way over Iran.

The rally extended across the defence sector.

Northrop Grumman shares jumped 6%, lifted by its stealth-bomber and missile-defence technologies.

RTX, formerly Raytheon, gained nearly 5% while L3Harris Technologies and General Dynamics also recorded solid increases.

Palantir Technologies, whose data-analytics tools support intelligence operations, rose almost 6%.

European companies followed the upward trend on a more modest scale. Germany’s Renk and Italy’s Leonardo posted gains as investors eyed possible increases in NATO procurement and export orders.

Analysts note that defence budgets, already earmarked for growth in 2026, now face even fewer hurdles in Washington and European capitals.

With President Trump stating that operations could last “four to five weeks” or “far longer”, and Iran continuing missile and drone barrages, markets are positioning for weeks of high-intensity military activity.

The gains reflect classic geopolitical risk pricing.

Other market outliers

These rises stand in sharp contrast to broader equity weakness, highlighting how narrowly the benefits are concentrated. Beyond the pure-play defence names, energy companies have been the other clear outperformers, riding the oil and gas wave.

Iranian retaliation has already included strikes to energy sites in Saudi Arabia and Qatar, threats to close the Strait of Hormuz, which could choke off roughly 20% of global oil supply and send energy prices soaring.

The international benchmarks for oil, Brent crude (BZ) and West Texas Intermediate (WTI), are trading at over $82.50 and $75.50 respectively, at the time of writing.

Alongside them, integrated oil majors moved swiftly higher.

ExxonMobil shares rose more than 4% recording a new all-time high, while Chevron, Occidental Petroleum and ConocoPhillips posted comparable gains.

In Europe, Shell and TotalEnergies advanced in line with the global pricing surge.

The QatarEnergy LNG production halt announced on Monday, following Iranian drone strikes on Ras Laffan and Mesaieed facilities, sent European benchmark TTF gas prices over 50% higher, reaching €62/MWh by Tuesday.

Markets reacted swiftly as the indefinite shutdown raised immediate fears of rerouted demand and renewed energy inflation risks in Europe.

LNG equities climbed notably since Monday’s open on the news.

Cheniere Energy, the largest LNG exporter in the US, Venture Global and Australia’s Woodside Energy, all saw intraday strength at the start of the week.

However, analysts caution that actual substitution will take time due to shipping and contract constraints, keeping price action geopolitically sensitive.

The European Commission announced it is closely tracking both price and supply developments and will convene an Energy Task Force with Member States, in liaison with the International Energy Agency, for a meeting sometime this week.

Published on
02/03/2026 – 10:23 GMT+1

European markets cratered on Monday as the fallout from a dramatic weekend of US and Israeli strikes on Iran rattled investors across the continent.

ADVERTISEMENT

ADVERTISEMENT

The Euro Stoxx 50 shed 2% at the open, with the broader pan-European Stoxx 600 close behind at -1.8% — and the selling shows no signs of stopping.

Regional indices from Frankfurt to Paris to Milan are all in the red, spooked by an escalating conflict that has choked shipping traffic through the Strait of Hormuz and drawn Hezbollah into the fray on Sunday.

In London, the FTSE 100 is having the more durable response, only falling around 0.3%.

However, Germany’s DAX 30 edged down 1% whilst France’s CAC 40 dropped more than 1.4%.

Italy’s FTSE MIB fell roughly 1.8%, the Netherlands’ NL 25 declined over 1% and Spain’s IBEX 35 has seen a sharp drop of more than 2%.

Before European markets opened, Japan’s Nikkei 225 was already in free fall and is currently down over 2.3%.

Likewise, US futures opened lower on Sunday with the E-mini S&P 500 dropping over 1.6% and E-mini NASDAQ down more than 2%.

In the UAE, regulators have taken the dramatic step of shutting down both the Abu Dhabi Securities Exchange and the Dubai Financial Market for the next two days.

The Capital Market Authority made no attempt to dress it up and the closures are explicitly designed to prevent panic selling after a staggering 165 ballistic missiles, 541 drones, and 2 cruise missiles rained down on the country over just 48 hours.

Oil and precious metals

While global markets sink into negative territory, crude oil prices rose in early trade on Monday morning as investors continue to weigh the potential impact of escalating tensions in the Middle East on the supply of energy.

The price of a barrel of US benchmark crude initially surged by about 8%. It later traded 5.9% higher at $71.00 per barrel. Brent crude rose 6.2% to $77.38 per barrel.

Gold is up roughly 2.5% while silver climbed 2% and platinum 1.2% as well.

Seoul shares surged more than 2 percent Tuesday to close at a fresh record high above the 5,900-point mark, driven by strong gains in technology shares. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) advanced 123.55 points, or 2.11 percent, to finish at an all-time high of 5,969.64.

The index has extended its upward momentum in recent weeks, surpassing the 5,000-point mark for the first time on Jan. 27 and crossing 5,500 on Feb. 12. It moved above 5,800 on Friday.

Trading volume was heavy at 1.58 billion shares worth 30.73 trillion won (US$21.3 billion), with decliners outnumbering gainers 465 to 407.

Institutions bought a net 2.37 trillion won worth of stocks, offsetting net sales of 199.16 billion won by foreign investors and 2.28 trillion won by retail investors.

The rally came despite overnight losses on Wall Street.

The Dow Jones Industrial Average fell 1.66 percent, and the tech-heavy Nasdaq Composite declined 1.13 percent.

In Seoul, investors scooped up major chip stocks ahead of an earnings report from U.S. chipmaker Nvidia later this week, while remaining cautious over U.S. President Donald Trump‘s push to impose new tariffs after the Supreme Court struck down his original sweeping duties, analysts said.

Trump signed an executive order Friday (U.S. time) authorizing new 10 percent global tariffs that took effect Tuesday. He has also threatened to raise the rate to 15 percent, though no formal order has been issued.

“Even if the global tariffs are raised to 15 percent, there will be no major impact on the local stock market because current U.S. tariffs on Korean imports already stand at 15 percent,” an analyst at IBK Securities Co. said.

Technology and automobile stocks led the gains.

Market bellwether Samsung Electronics jumped 3.63 percent to 200,000 won, while chip giant SK hynix surged 5.68 percent to a record high of 1,005,000 won.

Top automaker Hyundai Motor rose 0.19 percent to 524,000 won, and leading battery maker LG Energy Solution gained 4.17 percent to 412,500 won.

Among decliners, shipbuilder Hanwha Ocean fell 2.79 percent to 143,100 won, and Lotte Shopping declined 1.67 percent to 111,700 won.

The Korean won was quoted at 1,442.50 won against the U.S. dollar at 3:30 p.m., down 2.5 won from the previous session.

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 0.4 basis point to 3.158 percent, and the return on the benchmark five-year government bonds also climbed 0.5 basis point to 3.410 percent.

Copyright (c) Yonhap News Agency prohibits its content from being redistributed or reprinted without consent, and forbids the content from being learned and used by artificial intelligence systems.

Feb. 20 (Asia Today) — The number of fishing vessels over 10 tons in North Gyeongsang Province has fallen nearly 16% over the past five years as squid stocks along South Korea’s East Sea coast continue to decline, government data show.

According to the Ministry of Oceans and Fisheries’ fisheries statistics portal, 369 vessels exceeding 10 tons were registered in Gyeongbuk in 2024, down from 438 in 2020, a 15.7% decrease.

Local fishermen have long relied on squid as a primary source of income. In 2020, catches of Pacific flying squid in the region reached 20,653 tons, accounting for more than half of total production. By 2023, that figure had plunged to 2,793 tons, an 86% drop in four years.

Analysts attribute the decline in part to rising sea temperatures that have pushed spawning and feeding grounds northward, causing juvenile squid to remain longer in northern Gangwon Province and waters near North Korea.

Some observers also point to large-scale fishing activity by Chinese vessels in North Korean waters. In 2020, Global Fishing Watch, a nonprofit monitoring group, reported that squid populations in South Korean and Japanese waters had fallen about 80% since 2003, linking the decline to foreign fishing in North Korean waters.

The group said more than 900 large Chinese vessels were found operating in the area in violation of U.N. sanctions and estimated they harvested more than 160,000 tons of Pacific flying squid worth roughly $500 million between 2017 and 2018 – an amount comparable to the combined annual catch of South Korea and Japan.

As nearshore squid stocks dwindle, distant-water fishing has expanded. In Busan, the number of vessels over 200 tons rose 18%, from 273 in 2020 to 321 in 2024, even as mid-sized vessels declined.

Overall registered fishing vessels in Busan remained relatively stable at 3,339 in 2024, compared with 3,333 four years earlier, but the fleet composition shifted toward larger ships.

Government data show distant-water squid production nearly doubled from 31,500 tons in 2023 to 63,200 tons in 2024.

Industry groups said a recently passed amendment to the Coastal and Inshore Fisheries Structural Improvement Act could provide a more stable exit path for fishing households facing financial strain.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260220010006175

South Korean stocks topped the 5,800-point mark for the first time Friday to end at a fresh record high amid expectations that upcoming investor-friendly measures will help lift market valuations. The local currency fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 131.28 points, or 2.31 percent, to close at an all-time high of 5,803.53.

Trade volume was heavy at 1.73 billion shares worth 32.74 trillion won (US$22.64 billion), with winners outnumbering losers 543 to 340.

Institutions scooped up a net 1.61 trillion won worth of shares, while foreign and retail investors sold a net 745.06 billion won and 986.12 billion won worth of shares, respectively, for profit-taking.

After a three-day Lunar New Year holiday break, the index surged Thursday to top the 5,600 level, with experts saying pent-up demand accumulated during the holiday continued to flow into the stock market.

The KOSPI has been on a bull run recently, surpassing the 5,000 mark for the first time ever on Jan. 27 and the 5,500 level on Feb. 12.

“Geopolitical tensions have heightened after U.S. President Donald Trump signaled the possibility of military action against Iran following a 10-day negotiation deadline, and some analysts suggest the risk of a full-scale conflict is not negligible,” Kim Seok-hwan, an analyst at Mirae Asset Securities, said.

“But investors have maintained expectations for a series of measures by the government and companies to boost shareholder returns and overall market valuations,” he added.

U.S. shares lost ground Thursday (U.S. time) amid concerns about the U.S.-Iran situation and risks linked to massive investments in artificial intelligence (AI), as the U.S. private market and alternative assets manager Blue Owl Capital announced it is going to tighten investor liquidity.

Most large-cap shares finished higher, with chip and defense shares leading the market advance.

Market bellwether Samsung Electronics edged up 0.05 percent to 190,100 won, and chip giant SK hynix surged 6.15 percent to 949,000 won.

Carmakers traded mixed. Top automaker Hyundai Motor went down 0.78 percent to 509,000 won, while its sister affiliate Kia soared 1.06 percent to 171,800 won.

Leading battery maker LG Energy Solution fell 0.5 percent to 401,500 won, but AI investment firm SK Square advanced 2.47 percent to 580,000 won.

Nuclear power plant builder Doosan Enerbility surged 5.18 percent to 103,500 won, and defense giant Hanwha Aerospace spiked 8.09 percent to 1,242,000 won.

Leading shipbuilder HD Hyundai Heavy jumped 4.88 percent to 602,000 won, and its rival Hanwha Ocean shot up 6.61 percent to 149,900 won.

Pharmaceutical giant Samsung Biologics went up 0.93 percent to 1,736,000 won, while Celltrion dipped 1.02 percent to 242,000 won.

Financials gathered ground. KB Financial added 1.38 percent to 168,800 won, and Shinhan Financial grew 1.69 percent to 102,000 won.

Samsung Life Insurance climbed 4.78 percent to 219,000 won, and Mirae Asset Securities rose 0.57 percent to 70,900 won.

The Korean won was quoted at 1,446.65 won against the U.S. dollar at 3:30 p.m., down 1.15 won from the previous session.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys lost 3.5 basis points to 3.143 percent, and the return on the benchmark five-year government bonds also shed 3.5 basis points to 3.391 percent.

Copyright (c) Yonhap News Agency prohibits its content from being redistributed or reprinted without consent, and forbids the content from being learned and used by artificial intelligence systems.

Published on
12/02/2026 – 14:57 GMT+1

European shares extended gains to new highs by early afternoon on Thursday, as strong corporate earnings from luxury and industrial groups fuelled a broad rally across the region’s equity markets.

ADVERTISEMENT

ADVERTISEMENT

The pan-European STOXX 600 was up about 0.5% to 624.67 points by midday, holding near the all-time high level as investors digested a heavy slate of earnings updates.

Major benchmarks also hovered near record levels, with France’s CAC 40 up more than 1.4% on the day and London’s FTSE 100 trading around a record intraday high near 10,535 points.

Luxury stocks were among the biggest drivers of gains, with the sector rising about 1.5%.

Shares in Hermès climbed to a near one-month high after the French fashion house reported stronger-than-expected quarterly sales, backed by robust demand in the United States and Japan.

The results helped lift sentiment across the high-end consumer segment, which has faced concerns over slowing growth in China and more cautious spending among middle-income shoppers.

AI-adjacent industries jump

Industrial companies linked to artificial intelligence and data-centred demand were another key pillar of the rally.

French electrical equipment maker Legrand jumped about 5.8% after reporting strong demand tied to data-centre projects.

German engineering giant Siemens also rose sharply, climbing more than 6% after raising its full-year profit outlook, citing strong orders linked to AI-driven automation and digital infrastructure.

Analysts say the surge in AI-related industrial stocks reflects expectations that global spending on data centres, automation and electrification, will continue to accelerate as companies invest heavily in artificial intelligence capacity.

Stronger-than-expected corporate earnings updates were seen as the main catalyst for the rally.

Broader market sentiment was also supported by a robust US jobs report, which eased concerns about a slowdown in the world’s largest economy and reinforced expectations that growth will remain steady.

Feb. 6 (UPI) — The Dow Jones Industrial Average surpassed 50,000 points for the first time in its history as most blue-chip stocks gained during trading Friday.

The Dow set a new record of 50,115.67 after posting an average gain of 1,207 points and 2.4%, while 28 of 30 blue-chip stocks rose in value during the day’s trading.

The Dow’s record day caused it to post a 2.5% gain for the week.

NVIDIA led the charge with a 7.87% gain while closing at 185.41 after rising 13.53 in value, and Caterpillar posted a 7.04% gain after rising 47.74 in value and closing 726.2.

Investors credited the nation’s economy and significant corporate earnings with spurring the day’s gains after overcoming an emotionally driven selloff earlier in the week, The Wall Street Journal reported.

“Emotional deleveraging selloffs, such as this week, are unnerving,” Mark Hackett, chief market strategist at Nationwide, told the news outlet.

Despite the earlier selloff, Hackett said the “macro and earnings environment remain encouraging.”

In addition to the Dow gains on Friday, investors spurred a 1.97% gain for the S&P 500, which rose 133.90 points and closed at 6,932.30.

The Nasdaq Composite also posted a significant gain by rising 2.18% and 490.63 points to close at 23,031.21 for the day.

Despite the gains on Friday, the S&P 500 was down a slight 0.1% and the Nasdaq 1.8% for the week.

Investments by tech firms in artificial intelligence generally fueled the day’s gains.

“We’re in a gold rush right now with AI,” Falcon Wealth Planning founder Gabriel Shahin told CNBC.

“You have the investment that Google is making, Nvidia is making, that Meta is making [and] that Amazon is making,” Shanin said. “There is money that will be deployed.”

He said investors are moving away from growth stocks and favoring those that provide value amid a “great recalibration.”