【US Stock Market Close】Oil Price Falls Over 2%, Dow Jones Up 387 Points, Trump Delays China Visit by One Month (Continuously Updated)

The US dollar index and oil prices declined, with NY crude falling 5.3% to close at $93.50, Brent crude down 2.4% to $100.66. The US dollar index dropped 0.6%, to 99.8.

As the G7 major countries begin releasing their oil reserves, short-term supply is sufficient. However, the Iran crisis continues to trouble the market. Trump stated that he has postponed a summit with Chinese President Xi Jinping by about a month, as remaining in Washington to command the Iran war is very important to him. The delay reflects Trump’s expectations about the duration of the Iran conflict.

The Dow rose 387 points to 46,946, the S&P 500 increased 1% to 6,699, and the Nasdaq gained 1.2% to 22,374.

According to PBS, Trump said Iran is not yet ready to reach an agreement, and mentioned that once the war ends, oil prices will drop rapidly like a rolling stone, believing the war won’t last too long. He also stated that Iran has extensive infrastructure in Tehran that could be destroyed within an hour, including power plants, but doing so would require years of rebuilding and cause trauma, so it’s best to avoid. He also mentioned he does not want to damage the pipelines on Halek Island, a major oil hub, because once destroyed, it would take years to reconnect.

U.S. Treasury Secretary Janet Yellen told CNBC that the U.S. does not mind some Iranian, Indian, and Chinese ships passing through the Strait of Hormuz, considering Iran’s allowing ships to pass as a natural opening, and hopes global oil supply remains ample. She added that any measures to ease oil prices will depend on how long the Iran war lasts.

In focus stocks, NVIDIA (US: NVDA) rose 2.6% to $184.93, with Jensen Huang speaking at the GTC tech conference.

Data center company Nebius (US: NBIS) surged 15.4%, after announcing on Monday that starting early 2027, it will provide Meta (US: META) with $12 billion in dedicated computing capacity. Meta also committed to purchasing up to an additional $15 billion in computing capacity. Meta increased 1.9%.

This week’s highlights include the U.S. February PPI report on Tuesday, and the Federal Reserve’s interest rate decision on Thursday Hong Kong time. Major central banks such as the European Central Bank, Bank of England, and Bank of Japan will also hold meetings this week. Additionally, Micron (US: MU) will release earnings after market close on Wednesday.

Hong Kong stocks and ADR markets are continuously updated. For details, see: Next page

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Market Highlights:

【22:55】Trump: Once the war ends, oil prices will fall sharply. Dow rises 393 points, oil drops 1%.

【21:30】Yellen: U.S. does not mind Chinese ships passing through the Strait of Hormuz. Dow up 369 points, oil down 1%.

【18:50】Middle East war enters its third week. Dow futures up 152 points, Nasdaq futures up 0.7%. This week is a “super rate decision week.”

【13:47】Dow futures up 226 points, at 47,112; S&P futures up 39 points, at 6,724; Nasdaq futures up 147 points or 0.6%, at 24,753.

【12:59】【AI + Chips】Tesla to develop its own chips? Elon Musk announces the launch of a giant AI chip factory “Terafab.”

【12:06】【AI + Gemini】Hong Kong also uses Gemini! Google: will further expand Gemini to all users in Hong Kong, starting with web version, mobile app coming later.

【11:07】【Xi-Trump Meeting】Trump says “possible delay” of meeting with President Xi Jinping.

【10:14】【Iran Crisis】IEA: Over 400 million barrels of emergency oil reserves are about to be released, prioritizing supply to Asia; Europe and the U.S. need to wait until late March.

【19:28】【Gold Price Trend】Gold falls below $5,000, as Middle East war enters its third week and oil prices continue to rise.

【11:36】【Iran Crisis】U.S. Energy Secretary: Cannot guarantee oil prices will fall within weeks. Focus on striking military facilities before seizing the strait (ongoing updates).

【07:30】【Global Weekly Outlook】This week is a “super rate decision week.” The Fed is expected to keep interest rates unchanged on Thursday.

【07:30】As Middle East tensions escalate, U.S. stocks declined last Friday. The Dow opened slightly higher, gaining up to 446 points, then fluctuated and fell 183 points, closing at 46,558, down 119 points. The S&P 500 fell 0.61%, and the Nasdaq dropped 0.93%.

See the U.S. stock market close:

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U.S. stock market activity last week. For details, see: 【U.S. Market Close】 Preview of next week’s Iran focus. Dow down 119 points, Brent crude up 2.7% to over $103.