Tonight's Highlights | Safe-Haven Sentiment Sweeps Markets: US Futures Plunge as Oil and Gold Surge

On Monday, US stock index futures plummeted following weekend strikes by the United States and Israel against Iran. Major European indices also saw broad and sharp declines.

 

The death of Iran’s Supreme Leader Ayatollah Khamenei in the joint US-Israeli operation—and Iran’s subsequent vow for forceful retaliation—has intensified fears that the conflict could spread across the entire region.

 

In response, global energy benchmark Brent crude surged over 7%, while gold futures rose nearly 3%. The US dollar and the Swiss franc both strengthened as investors broadly shifted toward safe-haven assets.

 

This geopolitical escalation exacerbates an already fragile backdrop for equities. US markets suffered a sell-off last Friday as AI and software stocks faced renewed volatility, leading the S&P 500 to close February in negative territory.

 

In a note to clients, equity strategists at Citigroup stated:

 

"Overall, we believe the impact leans toward the short term, but we cannot rule out the possibility of longer-term friction for the equity markets. We must also weigh this new volatility event against a growing list of concerns. Specifically, while the AI spending boom appears set to continue, the promise of productivity gains is quickly facing business model disruption triggered by artificial intelligence."

Corporate News

ASML Reportedly Plans to Expand Chipmaking Equipment into Advanced Packaging

 

According to reports, ASML plans to leverage AI to enhance tool performance and production speeds. The company intends to expand its chipmaking equipment into the advanced packaging sector, developing tools designed to help "stitch" multiple chips together.

 

Amazon Announces Increase in Spanish Investment to €33.7 Billion

 

On March 2, Amazon announced an additional €18 billion investment in Spain, on top of the €15.7 billion announced in 2024. The funds will be used to expand and support data center infrastructure, providing advanced AI and cloud computing capabilities to businesses across Europe.

 

The total investment plan is projected to contribute €31.7 billion to Spain's GDP by 2035 and create approximately 29,900 full-time jobs annually for local businesses.

 

Tesla: Cybercab Mass Production Accelerating

 

On March 2, Tesla posted that its humanoid robots are undergoing continuous iteration and that mass production work for the Cybercab is accelerating.