Investors flocked again to tech shares, lifting the Nasdaq and keeping the ‌tech-heavy index ⁠in positive ⁠territory since the U.S.-Israeli strike on Iran that ignited the conflict in the Middle East. The S&P 500 remained close to its all-time closing high, in January. A New York Times report said Iranian intelligence operatives indirectly reached out to the CIA a day after the attacks, but U.S. officials remain skeptical that either the Trump administration or Iran is prepared for a near-term de-escalation. Trump’s announcements of a U.S. naval escort for oil tankers through the Strait of Hormuz and political risk insurance also brought some relief.

The White House announcement reduced fears ⁠of major disruptions ‌in the oil market which could lift energy prices and pressure inflation, said Jim Awad, senior managing director at Clearstead Advisors LLC in New York. The relief gave investors confidence to ⁠scoop up tech-related stocks that sold off heavily in February and were cheap compared with weeks ago, he said.

“That combination is giving the market some optimism, which will be tested over coming weeks,” Awad said. “It is time to be realistic and not get carried away, either too bullishly or too bearishly.”

According to preliminary data, the S&P 500 gained 52.83 points, or 0.78%, to end at 6,869.46 points, while the Nasdaq Composite gained 290.79 points, or 1.29%, to 22,807.48. The Dow Jones Industrial Average rose 228.86 points, or 0.49%, to 48,738.98.

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The prospect of the war spurring additional ‌inflation is one of the main reasons for market volatility on the horizon, said Richard Bernstein, chief executive officer of Richard Bernstein Advisors.
“If people think the war will be short-lived or ‘not an issue’ for the U.S. economy, then the ⁠stock market will likely rally,” he said. “The opposite seems true too. Long-lived and impacting the U.S. economy could mean more volatility.” The energy sector led declines on the S&P 500 as stocks that had climbed in recent days on rising oil-price fears reversed course.

Several Middle Eastern countries have temporarily halted oil and gas production and the U.S. was looking to expand its campaign inside Iran. Oil prices settled unchanged on Wednesday at the end of a volatile trading session. Brent crude settled at $81.40 per barrel, flat to Tuesday’s close and at its highest level since January 2025.

The forex market remained highly volatile Wednesday as escalating conflict between the United States, Israel, and Iran continued to dominate sentiment, boosting the U.S. dollar as a safe-haven currency while pressuring risk-sensitive pairs amid surging oil prices and uncertainty over global supply chains.

The U.S. Dollar Index (DXY), which measures the greenback against a basket of major currencies, traded around 98.74 to 99.00 in early Asian and European sessions on March 4, 2026, up modestly from recent levels but off session highs near 99.33. The index extended gains from earlier in the week, reflecting flight-to-safety flows triggered by reports of Iranian retaliatory actions and temporary disruptions in the Strait of Hormuz.

Major currency pairs showed pronounced moves tied to the geopolitical backdrop. EUR/USD hovered near 1.1613 to 1.1620, down about 0.03% in recent trading, as the euro faced pressure from higher energy costs that could complicate the European Central Bank’s policy path. GBP/USD traded around 1.3364, edging up slightly by 0.05%, though the pound remained vulnerable to broader risk aversion. USD/JPY climbed toward 157.14 to 157.48, up modestly, with the yen weakening as safe-haven demand shifted toward the dollar amid rising oil prices that benefit commodity exporters but hurt Japan’s import-heavy economy.

Oil’s sharp rally amplified forex dynamics. Brent crude and WTI futures surged in recent sessions, with prices approaching or exceeding $73-75 per barrel at peaks, driven by fears of prolonged supply interruptions through the Strait of Hormuz — a chokepoint for roughly 20% of global oil flows. Analysts warned that sustained disruptions could push prices toward $80-100 per barrel, reviving inflation concerns and reducing expectations for aggressive central bank easing.

The dollar’s resilience stemmed from multiple factors. Geopolitical risk aversion traditionally favors the greenback, while higher oil prices stoke U.S. inflation expectations, lowering bets on Federal Reserve rate cuts. Money markets priced in about 37 basis points of Fed easing for 2026, down from prior levels. President Donald Trump’s assurances that the U.S. Navy would escort tankers and provide political risk insurance for maritime trade helped cap some losses late Tuesday, contributing to a partial rebound in equities and tempering dollar gains.

In Asia, the Japanese yen faced additional pressure. USD/JPY tested levels near 157-158, with analysts noting intervention risks if the pair approaches 160. The Bank of Japan has maintained a hawkish tilt with recent rate adjustments, but escalating energy costs could weigh on growth. EUR/JPY and GBP/JPY showed similar patterns, with crosses reflecting dollar dominance.

The British pound held relatively firm despite domestic uncertainties, including trade frictions and political developments. GBP/USD’s modest uptick reflected some resilience, though analysts from Barclays and HSBC highlighted near-term dollar tailwinds from risk aversion.

Broader market themes included tariff turbulence following a U.S. Supreme Court ruling limiting broad tariff authority, forcing narrower sector-based approaches. This added complexity to global trade outlooks, supporting the dollar while pressuring emerging market currencies. China’s renminbi and other Asian units faced headwinds amid export concerns.

Upcoming economic data could influence direction. The U.S. ADP employment report and ISM services data were due mid-week, with non-farm payrolls on Friday expected to be a high-volatility event. Traders also monitored any de-escalation signals from indirect U.S.-Iran contacts or nuclear talks.

Analysts offered cautious views. MUFG Research’s March 2026 outlook projected the DXY near 99.63 by end-Q1, with USD/JPY at 154.00 and EUR/USD around 1.1500 in coming quarters, assuming some stabilization. Convera highlighted elevated volatility from tariffs, central bank pressures, and oil on edge, driving sharper moves in majors.

The Australian dollar and New Zealand dollar showed mixed performance, with AUD/USD near 0.7042 and NZD/USD around 0.5911, reflecting commodity ties to oil but offset by risk sentiment.

As the Middle East situation evolves, forex participants remain on alert. A rapid de-escalation could unwind safe-haven premiums and pressure the dollar, while prolonged tensions might sustain strength in the greenback and volatility across pairs. For now, geopolitical headlines overshadow traditional fundamentals, keeping traders positioned defensively in an uncertain environment.

Communities across several Midwestern and Southern states participated in statewide tornado drills Wednesday, March 4, 2026, sounding outdoor warning sirens, activating NOAA Weather Radio alerts, and urging residents to practice sheltering procedures as part of annual Severe Weather Preparedness Week efforts.

The coordinated exercises, organized by the National Weather Service (NWS) in partnership with state emergency management agencies, aimed to test communication systems, reinforce safety protocols, and build readiness ahead of the peak tornado season that typically ramps up in spring and summer.

In **Missouri**, the statewide drill occurred at 11 a.m. local time, with outdoor sirens sounding in participating counties and NOAA Weather Radios broadcasting a Routine Weekly Test (RWT) code to signal the start. Missouri State Emergency Management Agency officials emphasized practicing sheltering plans at home, work, or school. The drill replaced regularly scheduled siren tests in some areas, such as Boone County, where sirens activated as part of the exercise. Residents were encouraged to move to interior rooms on the lowest level, away from windows, treating the alert as a real tornado warning.

**Kansas** held its drill at 10 a.m. CST (11 a.m. in far eastern parts), with sirens blaring across counties including Riley, Sedgwick, and Shawnee. The NWS issued an RWT via NOAA radios, and local emergency managers activated outdoor warning systems. Officials stressed reviewing severe weather plans during the week of March 2-6, designated Severe Weather Preparedness Week, with Wednesday focused on tornado safety. Residents, schools, and businesses were asked to practice “Duck and Cover” or move to designated safe spots as if an actual warning were in effect.

**Kentucky** conducted its annual statewide tornado drill at 10:07 a.m. EST (9:07 a.m. CST), with Lexington Emergency Management and other local agencies participating. Sirens sounded in participating communities, and the NWS broadcast test messages. The exercise fell during Kentucky’s Severe Weather Awareness Week (March 1-7), highlighting the state’s vulnerability to tornadoes, particularly in spring. Officials urged families and workplaces to practice immediate sheltering actions.

**North Carolina** joined with a drill at 9:30 a.m., activating the State Emergency Alert System and broadcasting via local radio stations and NOAA Weather Radio. Cumberland County and Raleigh-area officials encouraged participation, advising people to head to interior lowest-level rooms away from windows when the alert sounded.

**Illinois** held its drill March 3 around 10 a.m. CST, with a focus on communication testing through RWT codes rather than full siren activation in some areas, though many local systems participated.

Other states scheduled similar events in coming weeks or months. South Carolina’s statewide drill is set for March 11 at 9 a.m., Indiana for March 10 at about 10:15 a.m. Eastern, and Virginia for March 10 at 9:45 a.m.

The drills come amid growing emphasis on preparedness as climate patterns contribute to more frequent and intense severe weather events. The NWS notes that tornadoes can strike with little warning, making advance practice critical. Key safety messages repeated across states include:

– Seek shelter in a basement or interior room on the lowest floor.
– Avoid windows, doors, and exterior walls.
– Use helmets or protective headgear if available.
– Have a family plan, including multiple ways to receive alerts (NOAA radio, apps, TV/radio).
– Distinguish between a watch (conditions favorable for tornadoes) and a warning (tornado sighted or indicated by radar — take action immediately).

Participation was voluntary but strongly encouraged for schools, businesses, and households. Many agencies provided resources like printable preparedness packets, safety checklists, and online guides to help residents develop or refine plans.

In Missouri and Kansas, the drills aligned with broader Severe Weather Preparedness Week themes: Monday for planning and alerts, Tuesday for lightning and flood safety, Thursday for hail and wind, and Friday for recovery. Officials noted that practicing during controlled drills builds muscle memory, potentially saving lives when real threats emerge.

No major disruptions were reported from the exercises, though some areas postponed regular monthly siren tests to coincide with the statewide events. Weather permitting was a common caveat, with agencies ready to reschedule if actual severe weather threatened.

As spring approaches, meteorologists warn that tornado activity often peaks from April through June in the central U.S. The drills serve as a timely reminder to review emergency kits, designate safe rooms, and stay informed through multiple channels.

Residents who missed the drills or want more information can visit local NWS offices, state emergency management websites, or Ready.gov for tornado safety resources. Officials stress that preparation today can make the difference in tomorrow’s storm.

American shoppers are being urged to check their freezers as nearly 37 million pounds of frozen food products are being recalled over concerns they may be contaminated with glass.

Ajinomoto Foods North America has expanded last month’s recall to include an additional 33,617,045 pounds of frozen ready-to-eat and not-ready-to-eat chicken and pork fried rice, ramen and shumai dumpling products, according to a notice issued Tuesday by the Department of Agriculture’s Food Safety and Inspection Service (FSIS).

The Oregon-based company initially announced it was recalling 3,370,530 pounds of frozen chicken fried rice products on Feb. 20. With the expansion, the total now stands at 36,987,575 pounds.

MORE THAN 3M POUNDS OF FROZEN CHICKEN FRIED RICE RECALLED OVER POTENTIAL GLASS CONTAMINATION

The expanded recall includes popular frozen items sold under the brand names Ajinomoto, Kroger, Ling Ling, Tai Pei and Trader Joe’s, FSIS said.

Among the affected products are Ajinomoto Tokyo Style Shoyu (Soy Sauce) Ramen With Chicken, Ajinomoto Fried Rice Authentic Japanese Style, Kroger Chinese Inspirations Chicken Fried Rice, Ling Ling Restaurant Style Fried Rice Yakitori Chicken, Tai Pei Chicken Fried Rice, Trader Joe’s Chicken Fried Rice and Trader Joe’s Chicken Shu Mai, and others.

The recalled items were produced between Oct. 21, 2024, and Feb. 26, 2026, and have best-by dates ranging from Feb. 28, 2026, through Aug. 19, 2027. They also have establishment numbers P-18356, P-18356B or P-47971.

OVER 650,000 BOTTLES OF WATER RECALLED AFTER BEING PACKAGED IN ‘INSANITARY CONDITIONS’

The products were distributed to retail stores nationwide. Some Ajinomoto-branded items were also sent to Canada and Mexico, according to FSIS.

The recall was triggered after the company received multiple consumer complaints reporting pieces of glass in the food.

“Upon further investigation, the establishment determined that a vegetable source ingredient, specifically carrots, was the likely source of the glass contamination, which also impacted the additional products subject to this expanded recall,” FSIS stated.

There have been no confirmed reports of injuries linked to the recalled products, a spokesperson for Ajinomoto Foods told FOX Business.

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A Trader Joe’s logo is displayed on a sign outside a market in San Diego, California. (Kevin Carter/Getty Images / Getty Images)

Consumers who purchased the affected items are advised not to eat them and should instead throw the items away or return them to the store for a refund.

“Out of an abundance of caution, we have expanded on our voluntary recall for certain frozen products that may contain glass,” the spokesperson said. “… We are committed to maintaining the highest safety standards, and we continue to work closely with the USDA.”

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The full list of products is available on the USDA’s website.