Daily Market Update
Oil Collapses Below $90 as Trump Signals Iran War Near End, Markets Rebound Sharply
10 March 2026
Today in Brief
Global markets rebounded sharply as oil prices plunged after signals that the Iran conflict may be nearing its end.
Equities surged across Asia and the U.S., while commodities cooled and risk sentiment improved significantly.
Asia Markets Rebound as Oil Drops After Trump Signals Conflict May End Soon
Asia-Pacific markets rallied, led by a more than 5% jump in South Korea’s Kospi, after oil prices tumbled on signs that the Iran war may be nearing resolution. Brent crude fell 10% to $89.03 per barrel, while WTI dropped over 9% to $86.05. The decline followed comments from President Donald Trump suggesting the conflict was “very complete, pretty much,” triggering a sharp reversal from earlier highs near $120.
Dow Rallies 200 Points as Markets Reverse Losses on Iran War Optimism
U.S. stocks staged a strong comeback after early volatility, with the Dow Jones rising 239.25 points (0.5%) to 47,740.80. The S&P 500 gained 0.83% to 6,795.99, while the Nasdaq jumped 1.38% to 22,695.95. Intraday losses of nearly 1,000 points in the Dow were erased as oil prices retreated and geopolitical risk sentiment improved.
Gold Climbs to $5,170 as Dollar Weakens on Conflict De-escalation Hopes
Gold rose to around $5,170 per ounce, recovering from prior losses as the U.S. dollar softened following signals that the Middle East conflict may be ending. Investors continue to monitor inflation risks and Federal Reserve policy expectations, with rate-cut bets reduced to around 40 basis points for the year amid ongoing geopolitical uncertainty.
WTI Crude Falls Below $90 After Massive Volatility and Policy Signals
WTI crude fell below $90 per barrel after briefly approaching $120 in the previous session, as markets reacted to easing geopolitical tensions. President Trump signaled possible sanctions relief and proposed naval escorts for tankers through the Strait of Hormuz. Additional pressure came from G7 discussions on potential strategic reserve releases.
China Exports Surge 21.8% as Trade Surplus Hits Record High
China’s trade surplus reached a record $213.62 billion in the January–February period, driven by exports rising 21.8% year-on-year, far above expectations. Imports also grew 19.8%, reflecting resilient domestic demand. The strong data highlights China’s economic strength despite ongoing global trade tensions.
U.S. Evacuates Staff from Saudi Arabia as Conflict Spreads Across Region
The U.S. ordered non-emergency personnel to leave Saudi Arabia due to escalating regional conflict risks. The decision follows increased missile and drone threats and marks the first such evacuation since the war began. Iran ruled out an immediate ceasefire, while strikes continued across multiple fronts.
Iran Warns Oil Tankers in Strait of Hormuz Amid Rising Maritime Risks
Iran warned oil tankers transiting the Strait of Hormuz to exercise extreme caution, citing ongoing insecurity. Officials said maritime traffic remains at risk as long as conflict persists. The Strait, a critical global oil chokepoint, has seen severe disruptions impacting global crude flows.
Global Markets React to Trump Comments Suggesting War Nears End
Markets rebounded after President Trump suggested the Iran conflict may be nearing its conclusion, describing operations as “very complete.” Oil prices fell sharply while equities recovered losses. South Korea introduced emergency fuel price measures following recent spikes.
Tencent Surges on AI Agent Optimism as WorkBuddy Gains Attention
Tencent shares jumped over 6% as investor enthusiasm grew around its new AI agent platform WorkBuddy. The system, similar to OpenAI-style autonomous tools, can independently execute tasks on user devices. Broader Chinese tech stocks also rose amid growing AI adoption optimism.
Nvidia Plans Open-Source AI Agent Platform Ahead of Developer Conference
Nvidia is reportedly preparing to launch an open-source AI agent platform, potentially named NemoClaw, targeting enterprise automation. The company is engaging major partners including Salesforce, Google, and Adobe ahead of its annual developer conference, signaling deeper expansion into AI software ecosystems.
Trump Reportedly Bought Netflix and Warner Bros Bonds Amid Media Deal Activity
U.S. President Donald Trump reportedly purchased over $1.1 million in Netflix bonds during a period of major media merger activity involving Warner Bros Discovery. The trades coincided with regulatory scrutiny discussions and ongoing bidding war dynamics in the entertainment sector.
U.S. Solar Installations Decline as Policy Shift Impacts Renewable Growth
U.S. solar installations fell to 43 GW in 2025, down from nearly 50 GW in 2024, as policy changes under the Trump administration reduced subsidies and slowed approvals. Utility-scale and community solar segments saw double-digit declines, signaling a broader shift in energy priorities.
