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US stock market opens in decline amid Middle East escalation

As of 17:30 Moscow time, the Dow Jones Industrial Average — the main indicator of business activity in the US — fell by 1.08% to 48,447.52 points

NEW YORK, March 2. /TASS/. The US stock market opened the main trading session on Monday with key indices falling by more than 1% amid the escalation in the Middle East.

As of 17:30 Moscow time, the Dow Jones Industrial Average — the main indicator of business activity in the US — fell by 1.08% to 48,447.52 points. The S&P 500, which includes the 500 largest US companies, fell by 1.07% to 6,805.31 points. The Nasdaq Composite, in turn, declined 1.34% and reached 24,625.08 points.

By 17:51 Moscow time, the Dow Jones had trimmed losses to 48,685.85 points (-0.6%), the S&P 500 stood at 6,844.8 points (-0.5%), and the Nasdaq was at 24,834.46 points (-0.5%).

The United States and Israel launched a large-scale military operation against Iran on February 28. Major Iranian cities, including Tehran, were struck. The White House justified the attack by citing alleged missile and nuclear threats from Iran. At the same time, US leadership openly called on the Iranian population to rise up against their government and seize power.

As a result of the strikes, Iran’s supreme leader, Ayatollah Ali Khamenei, and several other senior figures in the leadership of the Islamic Republic were killed.

The Islamic Revolutionary Guard Corps announced a retaliatory operation, targeting sites in Israel. US military bases in Bahrain, Jordan, Qatar, Kuwait, the UAE, and Saudi Arabia were also hit.