U.S. stock futures tumbled sharply on March 2, 2026, as investors reacted to intensified military conflict in the Middle East following joint U.S. and Israeli strikes on Iran over the weekend, spurring a flight to safety, surging oil prices and a retreat from risk assets.

Dow Jones Industrial Average futures (YM=F) fell more than 500 points, or about 1.2%, while S&P 500 futures (ES=F) dropped around 1.1% and Nasdaq 100 futures (NQ=F) slid 1.4%. The moves pointed to a volatile open for Wall Street, with the CBOE Volatility Index (VIX) jumping to a three-month high near 23.7, signaling heightened fear.

The geopolitical shock compounded recent market pressures, including AI-related uncertainties, hotter inflation data and private credit jitters. President Donald Trump indicated military operations in Iran could persist for weeks, raising concerns about prolonged disruptions to global trade, energy supplies and inflationary pressures.

Crude oil prices soared amid fears of supply interruptions. U.S. benchmark West Texas Intermediate jumped around 8-9% to near $73 per barrel, while Brent crude climbed nearly 10% toward $80. Energy stocks were poised for gains, with North American producers likely benefiting, though broader market selling pressured sectors like airlines after some carriers halted flights in the region.

Gold and silver futures rose as safe-haven demand increased. The 10-year Treasury yield edged higher to around 3.99%, reflecting shifting expectations for borrowing costs amid potential inflation from energy shocks.

The sell-off extended from Friday’s close, when major indexes finished lower. The Dow Jones Industrial Average dropped 521.28 points, or 1.05%, to 48,977.92. The S&P 500 declined 0.43% to 6,878.88, and the Nasdaq Composite lost 0.92% to 22,668.21. February proved challenging, with the Nasdaq and S&P 500 posting their worst monthly performances since March in recent years, though the Dow eked out slight gains for its 10th straight positive month.

Analysts noted the market’s vulnerability to geopolitical catalysts. Reuters reported futures sliding over 1% as investors priced in a potentially weeks-long conflict disrupting flows. USA Today highlighted hits to airlines and financials from the cloudy global outlook.

Despite the immediate pressure, some optimism persisted for March. Fundstrat’s Tom Lee, in a CNBC appearance, forecasted an up month for stocks historically, averaging 1.0% gains with a 64% frequency over five decades. He suggested the current dip could prove temporary amid ongoing AI momentum and economic resilience.

Trading Economics data showed the U.S.500 index (tracking the S&P 500) dipping to around 6,798-6,806 points on March 2, down 1.06-1.52% in recent sessions, though still up significantly year-over-year at about 16%. The index hit an all-time high near 7,002 in January but has pulled back amid volatility.

Sector rotations favored defensives and commodities. Health care, energy and consumer staples outperformed in recent closes, while technology and financials lagged. Defense contractors gained traction from heightened tensions, with potential for further upside if conflict escalates.

European and Asian markets largely sold off in sympathy, with energy-sensitive regions feeling the pinch. Bitcoin hovered around $66,000 after dipping below $63,000 over the weekend.

Investors eyed upcoming data and Fed commentary for clues on rate paths, though geopolitical developments dominated. The conflict’s duration and scope could dictate near-term direction, with supply chain risks and inflation implications in focus.

Wall Street braced for choppy trading, as the combination of macro uncertainties and fresh Middle East flare-ups tested recent resilience. Long-term bulls pointed to historical March strength and AI-driven growth, but short-term caution prevailed amid the risk-off mood.

As markets opened, attention turned to whether energy and defense gains could offset broader declines, or if the sell-off would deepen on sustained uncertainty.

Australia is preparing to take a firm stance against AI chatbots that fail to restrict access for younger users. Everything is accessible now, especially with artificial intelligence making it even easier and faster in just a few clicks.

The latest reports suggest that regulators may soon require app stores to block AI services that do not implement proper age verification systems by March 9.

Millions in Fines for Non-Compliant AI Platforms

The country’s eSafety commissioner has made the government’s position clear, warning that authorities will use “the full range” of enforcement powers against non-compliant services. This could include direct action against gatekeeper platforms such as search engines and app stores, which serve as primary access points for AI services.

A review cited by Reuters found that out of 50 leading text-based AI chat services operating in Australia, only nine have introduced or announced age assurance measures.

11 platforms reportedly applied blanket content filters or planned to block Australian users entirely. This leaves a substantial number of AI providers without visible safeguards just days before the compliance deadline.

According to Engadget, companies that fail to meet the proposed requirements could face fines of up to A$49.5 million (approximately $35 million), highlighting how seriously regulators are treating child safety in the age of AI.

Back in 2024, Australia announced its plans to create its own AI advisory body amid the rising usage of chatbots.

Global Debate Over AI Content Responsibility

Australia’s crackdown occurs amid a wider international debate over who should protect minors from harmful digital content. In the United States, tech giants like Apple and Google have attempted to shift responsibility onto AI platforms rather than app stores.

Given Australia’s tight social media restrictions for users under 16, enacted last year, the country’s tougher regulatory approach to AI services aligns with national policy priorities and emphasizes child safety as a non-negotiable standard for emerging technologies.

Australia is also concerned about AI’s security risks, especially when chatbots have access to government-owned devices. Last year, the country banned China’s DeepSeek, calling it an “unacceptable risk” to the local infrastructure.

Originally published on Tech Times

Finance Minister Ekniti Nitithanprapas asserts that Thailand’s economy remains resilient in the face of escalating Middle East conflict due to stable economic fundamentals and a flexible financial sector. While the turmoil poses risks to energy costs, tourism, and global trade, the government has implemented proactive measures, such as securing significant oil reserves and providing financial support for exporters, to cushion the impact.

The escalating conflict in the Middle East has created significant economic and logistical pressure on Thailand as of March 2026. ^{While the Thai government maintains that the situation is manageable, several key sectors are currently on high alert.}

1. Energy Security and Costs

Thailand is highly vulnerable to energy shocks due to its reliance on Middle Eastern oil.

• Oil Reserves: Thailand currently holds approximately 60–61 days of oil reserves. However, the Ministry of Energy has already suspended oil exports to preserve domestic supplies.
• Price Hikes: Officials have identified Wednesday, March 4, 2026, as a critical tipping point. If global diesel prices exceed $100 per barrel, significant domestic retail price hikes are expected.
• Power Pivot: To reduce reliance on imported Liquefied Natural Gas (LNG), the government has ordered coal-fired and hydroelectric plants to operate at maximum capacity.

2. Trade and Logistics

While direct trade with conflict zones like Iran and Israel is a small percentage of total volume, the broader regional impact is severe.

• Shipping Disruptions: The potential closure of the Strait of Hormuz—a chokepoint for 20% of global oil—is the primary concern. Freight rates and maritime insurance premiums have already spiked by roughly 50%.
• Vulnerable Exports: Canned fruits, rubber products, automotive parts, and machinery are the most exposed sectors.
• Financial Relief: The EXIM Bank of Thailand has introduced an emergency package, including a 365-day debt moratorium and 20% interest rate cuts for affected exporters.

3. Tourism and Aviation

The tourism sector, a vital pillar of the Thai economy, is facing immediate headwinds.

• Market Loss: High-spending tourists from the GCC (Gulf Cooperation Council) and Israel, who spend an average of 100,000 THB per trip, are seeing massive travel disruptions.
• Airspace Closures: Thousands of flights have been delayed or canceled globally, affecting Thailand’s recovery as a regional hub. Some experts warn of a potential 80% plunge in Middle Eastern arrivals if the conflict persists.
• Opportunity: On a strategic note, if Middle Eastern aviation hubs remain unstable, there is a long-term possibility of flight traffic and investment shifting toward Southeast Asian hubs like Bangkok.

4. Government “War Room” Response

Prime Minister Anutin Charnvirakul and several ministries have established an Economic War Room to coordinate responses:

• Labor Safety: Monitoring the safety of over 77,000 Thai workers currently in the Middle East (primarily Israel, UAE, and Saudi Arabia).
• Market Diversification: Accelerating a pivot toward “safe-haven” markets in South Asia, Africa, and Latin America to reduce regional dependency.
• Inflation Control: Despite the pressure, the government is attempting to hold its 2026 inflation forecast at 0.3% through the use of the Oil Fuel Fund.

Despite potential inflationary pressures and safety concerns for the approximately 100,000 Thai workers in the region, officials believe the domestic economy is well-equipped to navigate these external volatilities.

Key Points

• Finance Minister Ekniti Nitithanprapas emphasizes that Thailand’s strong economic fundamentals and flexible financial sector are capable of managing risks posed by global volatility.
• The conflict is expected to impact several key areas, including energy prices, global trade, supply chains, tourism, inflation, and the labor market.
• To mitigate energy supply risks, the government has secured domestic oil reserves sufficient to meet demand for at least two months.
• Approximately 100,000 Thai nationals working in the Middle East face safety risks, prompting the Foreign Ministry to prepare evacuation contingency plans.
• The tourism sector faces potential setbacks from flight cancellations, airspace closures, and a likely reduction in international arrivals.
• The Finance Ministry is coordinating with financial institutions to provide liquidity support for exporters and importers burdened by rising freight and insurance costs.
• While rising oil prices may drive inflation, the impact is expected to be moderate, with the annual inflation forecast remaining low at 0.3%.
• Security measures have been tightened at the US, Iranian, and Israeli embassies in Bangkok, and Thailand may seek alternative oil supplies from Africa and the Americas if regional tensions worsen.

Additionally, the Finance Minister emphasized the importance of diversifying trade partnerships to reduce dependency on volatile regions. He highlighted ongoing efforts to promote domestic industries and attract foreign investments, ensuring long-term economic growth.

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Start Yard boss says Birkenhead can rival Shoreditch or the Meatpacking District

Liverpool and the areas around it need to move on from The Beatles’ and celebrate what Liverpool is best at now, a business owner has said.

David Tully, who runs virtual reality company Scene Graph Studios, said more needs to be done to promote technology companies in the region, adding: “Liverpool is a fantastic place in the UK, it’s been said so many times, but I think we need to carry on and celebrate ourselves a bit more.”

The business was one of the first tenants in Start Yard, a collection of different start up businesses based at a former Cammell Laird depot in Birkenhead. While the hub’s early days “were a bit quiet”, Start Yard now has 22 spaces with 19 of them filled. It is bringing people in from Liverpool, and its owner hopes to have eight more units in the next year.

David said: “We did look at the Baltic but for something that we get here, you could probably get a closet for the same price. This place is very good, it’s flexible.

“Birkenhead companies can compete with the big players. You have just got be good at what you do. That gives you hope.”

However he feels Merseyside should do more to shout about the gaming and other tech industries that are based in the region, adding: “Liverpool has been seen as the land of music since the Beatles but it’s not.

“It’s the land of tech but we do not talk about it. The amount of games companies in Liverpool, we do not talk about it. I think everybody has got their head down working so hard you do not have the time to celebrate ourselves.”

Pointing to Birkenhead’s decline in recent decades, he said: “We have got to bring back the tech money and the jobs but no one is going to do it for us.

“We have got to make a change and we have got the infrastructure for it. We have got good companies, good students, and good universities.

“Now we just need to get tech jobs to come in. The amount of brain drain from Liverpool is insane.”

Start Yard is the idea of Chris Lee, who also worked on the regeneration of Liverpool’s Baltic Triangle from its earliest days. Central Birkenhead he feels could follow in its footsteps with Start Yard offering an affordable and easier place to set up a business and create jobs in the area.

Comparing Birkenhead’s potential to Shoreditch in London or the Meatpacking District in New York, Chris said: “It’s no different here. The biggest issue is you can always make it happen fast with a bit of joined up action.”

Four years after it started supported by funding awarded to Wirral Council to regenerate the town, Start Yard is hosting a free start-up event on April 16 aimed at bringing more young people into business.

Chris said: “I know how difficult it is to start a business and I know in the first three to four years, they can fail.

“They could be brilliant ideas but if you do not have luck or determination, it’s difficult to make things happen. It hasn’t been easy for us but we are four years in and the community has flourished.”

Another Start Yard tenant, Darran Medley, who works for fashion networking company MIF Industries, said: “Getting people out of London isn’t easy but you can get a train here in two hours and you can’t do that across London sometimes. This place really does make sense.

“Sometimes people are surprised this is here but then that leads to what else is going on in Birkenhead. There’s lots going on here. Perhaps the reputation isn’t good but the opportunity to change that narrative is there and places like Start Yard do that.”

Park Cakes bought former pub in 2024 and now wants to clear ‘visual blight’

The bakery responsible for creating the much-loved Colin the Caterpillar cake for M&S is expanding. Park Cakes has permission to bulldoze a former pub right outside its bakery in Oldham to extend its grounds.

The Honeywell Arms at 491 Ashton Road has stood boarded-up since September 2024 and was bought-up by the bakery shortly after. Once a long-standing Robinsons Brewery pub, it struggled to remain open in the challenging conditions for the hospitality industry and a violent attack on the pub landlord in 2023.

Oldham Council has approved the demolition of the two-storey building, which includes a private flat for the pub landlords on the first floor. Town planners said the boozer had suffered ‘long-term decline’ with no visible investment in improving its facade since 2008. They also noted there were alternative pubs available within 1km (0.6 miles).

In a planning report, council officer Dave Richards said: “The demolition does not amount to the unnecessary loss of a valued community facility … and would remove a degraded, visually harmful structure from a prominent location. With appropriate conditions, the proposal would secure a safer, tidier and more coherent interim site appearance.”

Park Cakes bakery hasn’t yet revealed what it plans to do with the land. But in the short-term, they told town planners they wanted to ‘modernise the frontage of the Park Cakes Sites, by improving traffic management and access safety and removing a visual blight at a major junction’.

The bakery has not confirmed when the works are due to happen. The demolition will take place over the course of two-weeks. Work hours are restricted to between 8am and 6pm on weekdays and 9am to 1pm on Saturdays, to minimize impact on the surrounding residential areas.

The demolition will mark the end of an era for the pub building, which was last managed by Jack Dodd and his partner. Dodd ran the pub for 26 years before it was formally dissolved in August 2025.

In 2023, his partner was left needing 15 stitches after the couple tried to defend the pub from burglars. At the time, the pair told local press that the attack had made them want to move out of the area.

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

At the same time, markets will be closed in the United Arab Emirates on Monday and “until further notice,” according to a statement by the UAE Capital Market Authority, which oversees the Abu Dhabi Securities Exchange and the Dubai Financial Market. The authority said it continues to monitor developments in the region.

Operator

Welcome to the Gorilla Technology Group Inc. Fiscal Year 2025 Financial Results Conference Call. [Operator Instructions] The conference is being recorded [Operator Instructions].

Before we begin, we will read the forward-looking statement. Today’s call includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements reflect management’s current expectations and projections about future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially.

Forward-looking statements often include terms such as expects, believes, plans, anticipates, may, should and similar expressions. For a discussion of important factors that could affect Gorilla’s results, please refer to our filings with the SEC, including our most recent annual report on Form 20-F. Except as required by law, Gorilla undertakes no obligation to update or revise any forward-looking statements made on this call, whether as a result of new information, future events or otherwise.

I would now like to turn the conference over to Jay Chandan Chairman and Chief Executive Officer; and Bruce Bower, Chief Financial Officer. Please go ahead.

Jayesh Chandan
CEO & Executive Chairman

Thank you very much, Crystal. Thanks, everyone, and thanks for joining. I will keep it quick. If you want drama, the market’s already provided enough already today. So I will stick to the facts.

Now let me start with the