Iran approves! The Strait of Hormuz new regulations implemented, plans to charge passing vessels

Source: Securities Times Net Author: Zhang Xiaojing

Keep an eye on overnight market conditions.

Local time March 30 (Monday), the three major U.S. stock indexes closed with mixed results. The Dow rose 0.11%, the Nasdaq fell 0.73%, and the S&P 500 fell 0.39% and closed at the lowest level since August last year. Tech stocks remained under sustained pressure. The main reason was that concerns kept intensifying about whether the market’s massive investment in artificial intelligence (AI) can generate returns, while the Iranian war that has continued to escalate recently further hit risk appetite.

International oil prices surged. U.S. crude closed above $100 per barrel for the first time since 2022. According to the news, on March 30 local time, Iran’s parliament passed a bill to impose fees on ships transiting the Strait of Hormuz and to ban U.S. and Israeli ships from transiting the strait. The U.S. side threatened to “completely destroy” Iran’s oil facilities. At the same time, the outlook for talks between Iran and the U.S. remained unclear. Trump hoped to reach an agreement before April 6, and Iran reiterated that it would not hold direct talks with the U.S.

Micron plunges nearly 10%

Most major technology stocks fell. Micron Technology fell by nearly 10%. ARM, ON Semiconductor, and Super Micro Computer fell by more than 4%. AMD fell by nearly 3%. Tesla and Nvidia fell by more than 1%. Apple, Netflix, and Google-A edged down slightly. META rose by more than 2%. Amazon and Microsoft edged up slightly.

Chip stocks fell across the board. The Philadelphia Semiconductor Index fell 4.23%. Rambus Semiconductor fell by more than 11%. Western Digital fell by more than 8%. SanDisk fell by more than 7%. Intel fell by more than 4%. ASML and TSMC fell by more than 3%.

Tech stocks remained under sustained pressure. The main reason was that concerns kept intensifying about whether the market’s massive investment in artificial intelligence (AI) can generate returns, while the Iranian war that has continued to escalate recently further hit risk appetite.

Last Friday, the Nasdaq 100 entered a technical correction range (meaning it is down at least 10% from its recent high). This was the first time such a situation had occurred since April 2025. The so-called “Seven Giants”—Nvidia, Microsoft, Apple, Alphabet (Google’s parent company), Amazon, Meta, and Tesla—have all fallen by at least 10% from their respective historical highs.

Analysts said that although large tech stocks have been sold off in recent weeks and this has pushed the Nasdaq 100 into a technical correction, the brutal selloff is beginning to show some signals. In the past, these signals have often preceded a turning point for this sector’s market outlook.

Energy stocks saw mixed moves. U.S. energy fell by nearly 8%. Schlumberger fell by more than 3%. Halliburton fell by more than 2%. Murphy Oil and ConocoPhillips and Chevron edged down slightly. Petrobras, Exxon Mobil, and Shell edged up slightly. Occidental Petroleum and BP rose by more than 1%.

Airline stocks fell across the board. Alaska Airlines fell by more than 5%. Ryanair fell by more than 4%. United Airlines fell by more than 3%. Southwest Airlines fell by nearly 3%. Delta Air Lines fell by more than 2%. American Airlines fell by more than 1%. Boeing fell by 0.69%.

The Nasdaq Golden Dragon China Index closed down 0.36%. Among popular China-concept stocks, Baozun rose by more than 11%. iQIYI rose by more than 5%. NIO, Gaotu, and Zhihu rose by more than 3%. Trip.com, Tuniu, and STO Express rose by more than 1%. Bawang Chaji, Dingo Buy and Sell, and Li Auto edged up slightly. Alibaba and Vipshop edged down slightly. XPeng Motors and PDD fell by more than 1%. Xiaomi Group (ADR) and Bilibili fell by more than 2%. Miniso fell by more than 3%.

Iran’s parliament approves a bill to levy tolls on ships transiting the Strait of Hormuz

According to CCTV News, on March 30 local time, Iran’s parliamentary National Security Committee approved a bill proposing fees for ships transiting the Strait of Hormuz. The plan includes implementing financial arrangements and a charging system in the form of Iranian rials; banning U.S. and Israeli ships from transiting the Strait of Hormuz; maintaining the dominant position of Iran and its armed forces; banning countries that participate in unilateral sanctions against Iran from transiting; and Iran will cooperate with Oman to develop the relevant legal framework.

U.S. Secretary of State Rubio said on the 30th that the U.S. would never allow Iran to permanently control the Strait of Hormuz or establish a charging system, etc. He said that if Iran blocks the Strait of Hormuz after the war ends, it will “face serious consequences.” Rubio said the objectives of U.S. military action against Iran are very clear: the U.S. aims to achieve its military action objectives “within weeks rather than within months.”

White House: U.S.-Iran dialogue is still ongoing and progressing smoothly

White House press secretary Leavitt said that dialogue between the two sides of the U.S. and Iran is still ongoing and that progress is smooth. Leavitt said that Iran has agreed to some of the points put forward by the U.S. in non-public meetings. As for specific details, because negotiations are still under way, they will not make them public. On March 30 local time, Iran’s Foreign Ministry spokesperson Baghaei said that Iran has not held any talks with the U.S. at present.

Also, according to Xinhua News Agency, on March 30, White House press secretary Leavitt said that President Trump hopes to reach an agreement with Iran before the April 6 deadline. Trump previously said that at the request of the Iranian government, the U.S. would suspend strikes against Iran’s energy facilities for 10 days, resuming them at 8:00 p.m. Eastern Time on April 6.

U.S. crude settlement price closes above $100 for the first time in nearly four years

Local time March 30: since the U.S. launched military action against Iran with Israel, U.S. oil prices’ closing price in that day’s trading first broke above $100 per barrel.

That day, West Texas Intermediate (WTI) crude futures rose by more than 3%, closing at $102.88 per barrel, the highest level since July 2022. At the same time, the international benchmark Brent crude is also on track to post the largest historical percentage-based monthly gain in March.

$100 per barrel is considered a key psychological level that traders and market participants are watching. After the outbreak of the Iranian war, crude oil prices kept surging. The conflict has entered its fifth week. Even though the U.S. conducted diplomatic efforts last week, there are still no signs of easing. Crucially, shipping through the Strait of Hormuz is almost completely stalled.

International precious metals futures generally closed higher. COMEX gold futures rose 0.36% to $4,540.40 per ounce, and COMEX silver futures rose 0.55% to $70.18 per ounce. Tense geopolitical conditions in the Middle East boosted safe-haven sentiment. Combined with major central banks such as the Federal Reserve releasing monetary policy “wait-and-see” signals, the market remains cautious in its assessment of the liquidity environment, jointly supporting the rise in precious metals prices.

(Editor: Wen Jing)

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