Wall Street slides and oil jumps as Iran conflict widens
- Mar 3
- 1 min read
Riyadh, March 3, 2026 (Saudi Arabia Breaking News) – A global sell-off in stocks hit Wall Street early on Tuesday as oil prices jumped on fears the war with Iran is widening and could cause more sustained damage to the economy than investors had expected.
The S&P 500 fell 1.6% in early trading. The Dow Jones Industrial Average dropped 880 points, or 1.8%, while the Nasdaq composite lost 1.8%.
Crude oil prices rose more than 8% after Iran struck the U.S. Embassy in Saudi Arabia, widening targets to include areas linked to global oil and natural gas production. Treasury yields also rose.
