6/03/2026 Daily Reports
Global markets declined as rising oil prices and restrictions on artificial intelligence chips negatively impacted the technology sector; focus shifted to US employment data
- Global stocks recorded a slight decline as increased geopolitical tensions and rising energy prices negatively affected investor confidence. The Nasdaq Composite fell due to the impact of declines in semiconductor stocks following news of potential new global export license requirements for artificial intelligence chips. Major chipmakers such as Nvidia, Lam Research, and Applied Materials declined, putting pressure on the technology-heavy index. Markets are closely watching the release of the US February employment report to gain further direction on economic momentum and interest rate expectations.
- In Europe, Germany’s DAX Index closed down approximately 1.6% on Thursday. The decline was largely due to sharp increases in energy prices and heightened volatility linked to escalating tensions between the US and Iran.
- Meanwhile, energy markets continue to experience high volatility. The escalating tensions between the US and Iran have effectively halted maritime traffic in the Strait of Hormuz, stranding approximately 300 oil tankers near the strategic waterway. The White House has indicated that it may take measures to lower energy costs, including releasing emergency reserves or intervening in the oil futures market.
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Technology-Focused Rally Stabilizes Global Markets Amid Rising Oil Prices Due to Middle East Tensions
- Following a strong technology-focused rebound on Wednesday, US stock futures remained steady and the Nasdaq rose. Major tech companies such as Nvidia, Tesla, and Amazon led the gains, supporting the overall mood in the US market. Geopolitical concerns eased somewhat as the US offered naval escorts and risk insurance to commercial ships passing through the Persian Gulf, but uncertainty remains ahead of the newly announced 15% global US customs tariff, which will take effect later this week.
- European markets also rose, with Germany’s DAX climbing. It was driven by strong performances from Infineon, Daimler Truck Holding, and Siemens Energy.
- In Asia, the Nikkei 225 index rose. Investors reacted positively to gains on Wall Street, while concerns about the Middle East conflict eased. Technology stocks such as Fujikura, Advantest, and Tokyo Electron led the gains.
- Energy markets remained volatile. Brent crude oil rose over 3% to above $83 per barrel, approaching its highest level since July 2024, as escalating tensions between the US, Israel, and Iran disrupted shipping in the Strait of Hormuz, with over 100 tankers waiting near the strait.
- China ordered major refining companies to halt fuel exports due to the increased risk. In the US, data from the US Energy Information Administration showed crude oil stocks unexpectedly rose by 3.5 million barrels to 439.3 million barrels, further complicating the global oil outlook.
