The Nasdaq Composite ended lower Tuesday, extending recent volatility as investors navigated escalating tensions in the Middle East war involving the United States, Israel, and Iran. The tech-heavy index closed at 22,516.69, down 232.17 points or 1.02%, paring steeper intraday losses after early reports of potential indirect U.S.-Iran talks sparked a late-session rebound in broader markets.

The decline followed a turbulent session where the Nasdaq fell as much as 2-3% at points amid fears of prolonged oil supply disruptions through the Strait of Hormuz. Brent crude extended its rally, trading near $84 per barrel at peaks before easing slightly on hopes for diplomatic progress. Higher energy costs raised inflation concerns, pressuring growth-oriented tech stocks that dominate the index.

The broader market mirrored the unease. The S&P 500 slipped about 0.9% to around 6,847, while the Dow Jones Industrial Average fell roughly 403 points or 0.83% to 48,501.27. Trading volume was elevated, reflecting defensive positioning amid headlines. Asian markets opened sharply lower Wednesday, with South Korea’s Kospi tanking amid regional ripple effects.

Geopolitical developments drove the action. Fresh strikes on Iranian targets intensified supply fears, but President Donald Trump’s statement that the U.S. Navy would escort tankers and provide political risk insurance for shipping lanes offered reassurance. A New York Times report of indirect Iranian contacts with the U.S. to discuss ending the conflict boosted hopes for containment, helping futures reverse early losses and contributing to the Nasdaq’s recovery from session lows.

Tech giants faced selling pressure. Big names in semiconductors, software, and consumer tech lagged as higher borrowing costs from potential inflation weighed on valuations. Energy and defense-related plays provided some offset in the broader market, but the Nasdaq’s growth tilt made it more vulnerable to risk-off sentiment.

Analysts noted historical precedent: equities often shake off geopolitical shocks if disruptions prove short-lived. Past Middle East conflicts have led to temporary volatility but limited long-term damage unless oil spikes persist. Current levels, with Brent up sharply from mid-February, stoke caution, potentially delaying Federal Reserve rate cuts and pressuring multiples.

Pre-market futures Wednesday showed tentative gains. Nasdaq-100 futures rose about 0.4-0.5%, S&P 500 contracts added 0.3-0.4%, and Dow futures climbed 0.2-0.3% after overnight dips. The shift reflected optimism around de-escalation signals, though traders remained vigilant for any escalation.

Corporate earnings added layers. Companies like Dycom Industries, Abercrombie & Fitch, and others reported or were set to report March 4, with focus on guidance amid macro uncertainty. Tech earnings from Broadcom later in the week loomed large for Nasdaq sentiment.

The Nasdaq’s 52-week range spans roughly 14,784 to 24,020, with the index up modestly year-to-date before recent pullbacks. Tuesday’s close marked a retreat from February highs near 23,000, driven by war-related volatility rather than fundamental shifts.

Broader implications include inflation risks from sustained oil prices, which could feed into consumer costs and complicate Fed policy. Treasury yields ticked higher, signaling bets on stickier inflation. Gold held firm as a safe haven, while the dollar strengthened modestly before pausing.

As the conflict enters its sixth day, market participants eye any negotiation breakthroughs or further military developments. A rapid de-escalation could spark a relief rally, while prolonged tensions sustain pressure on risk assets like those in the Nasdaq.

For now, the index’s performance reflects the market’s balancing act: resilience in fundamentals versus headline-driven swings. Investors continue monitoring oil trajectories, diplomatic channels, and upcoming data for clues on direction.

Asda chair Allan Leighton said businesses are increasingly facing obstacles to growth which are ‘not of their own making’ as he criticised government policies

The chair of supermarket giant Asda has said that the government has become “more and more difficult” to work with and that policy-driven pressures on business have ballooned in recent decades.

Allan Leighton, Asda’s chair, suggested businesses are increasingly encountering barriers to growth which are “not of their own making”.

At Tuesday’s spring statement the Chancellor maintained the UK economy “is growing” but retailers responded by claiming decisions taken by Labour are undermining their capacity to expand.

Speaking at the Retail Week x The Grocer conference on Tuesday, Leighton said: “Politics and government have a much more bigger impact on what happens today than they did.

“You know, I think in that period of time, most of government was pretty business-friendly, and over a period of time that’s got, I think, more and more difficult,” he said, as reported by The Telegraph and by City AM.

Asda was acquired by US retailer Walmart for £6.7bn in 1999, before being purchased by the billionaire Issa brothers and British equity firm TDR Capital in 2021, with Walmart maintaining an equity stake and a board seat.

Leighton formerly ran Leeds-based Asda in the 1990s before rejoining the supermarket in 2024, following spells at The Co-op, Pandora and Brewdog.

Throughout his initial tenure at Asda the Tony Blair-led Labour Party went “out of their way to try to engage with business,” he said, whilst the climate facing business under today’s Labour government is “less helpful”. “In the end, you have to deal with it, which is why I don’t complain about it,” he said.

Retail and hospitality bosses suggested Rachel Reeves’ growth objectives are encouraging but are being hampered by government policy – including business rates and workers’ rights reforms – which make it harder for them to recruit.

Retailers have faced mounting employment costs in recent months and are now being compelled to adjust to Labour’s new workers’ rights reforms, which trade bodies have cautioned could push employers to reduce hiring.

Growing youth unemployment is becoming an escalating worry for business leaders, as the figure of young people not in education, employment or training approaches one million. The chief executive of bakery chain Greggs stated on Tuesday she was concerned by the scale of youth joblessness, describing getting young people into work as “key to the success of a future growing economy”.

Tesla Inc. (NASDAQ: TSLA) shares closed lower Tuesday, falling 2.70% to $392.43 amid broader market pressure from escalating Middle East conflict and rising oil prices, though pre-market trading Wednesday showed a modest rebound as Bank of America reinstated coverage with a bullish “Buy” rating and $460 price target.

The electric vehicle and clean energy giant’s stock opened at $395.09, reached a high of $396.34, and dipped to a low of $385.39 before settling at $392.43 on volume of approximately 62.4 million shares. After-hours trading lifted the price to around $397-401, up about 1.2-2.4% from the close, reflecting some dip-buying interest following the analyst upgrade.

Tesla’s market capitalization stood near $1.47 trillion, with the shares trading in a 52-week range of $214.25 to $498.83. The pullback comes after a volatile period: the stock gained roughly 44% over the past year but has declined about 3-4% in recent weeks and 12-13% year-to-date in 2026, pressured by softer EV demand, competition, and macroeconomic factors.

The decline aligned with broader market sentiment, as geopolitical risks in the Iran conflict drove oil higher and stoked inflation fears, weighing on growth stocks like Tesla. However, the company’s fundamentals and long-term bets on autonomy, robotics, and energy storage continue to draw attention.

Bank of America analysts, resuming coverage after a pause, highlighted Tesla’s leadership in consumer autonomy and robotaxi potential. They set a $460 target, citing expectations that Tesla will quickly become a leader in robotaxi services, leveraging its Full Self-Driving (FSD) technology and fleet advantages. The firm emphasized Tesla’s edge in data collection from millions of vehicles, positioning it ahead of rivals in scaling unsupervised autonomy.

Tesla’s pivot toward AI and robotics remains central to its narrative. CEO Elon Musk has repeatedly stressed that 2026 will mark acceleration in Optimus humanoid robot production, Cybercab robotaxi rollout, and energy storage expansion. The company plans $20 billion in capital expenditures this year, redirecting resources from traditional vehicle lines to support new factories, AI computing, and robotics. Musk has described the 10-year outlook as “extremely bright,” urging investors to focus on these high-margin opportunities.

Recent developments include plans to repurpose Fremont factory space from Model S and Model X production — set to end in 2026 — for Optimus lines capable of up to 1 million units annually. Musk teased a third-generation Optimus reveal in Q1 2026, engineered for broader real-world use. Cybercab production is slated to ramp, with unsupervised FSD testing expanding in new U.S. markets.

Challenges persist in the core auto business. Fourth-quarter 2025 deliveries fell 16%, contributing to a 3% annual revenue drop — the first ever — amid EV market saturation and competition from Chinese rivals. Regulatory hurdles loom, including a March 9, 2026, NHTSA deadline for FSD crash data submission tied to 58 incidents involving 2.88 million vehicles. Robotaxi incidents in Austin have drawn scrutiny, though Tesla maintains safety improvements.

Energy storage and solar provide diversification. Megapack deployments continue growing, offsetting softer vehicle margins. Analysts forecast 2026 EPS around $2.56, with revenue recovery hinging on autonomy monetization and energy growth.

Consensus remains mixed: 18 “Buy,” 14 “Hold,” and 9 “Sell” ratings, with an average target near $407. Some bulls like Wedbush see $600 potential if robotaxi scales, while bears like GLJ Research target $25, citing execution risks.

Technical analysts note bearish signals below key levels like $418-419, with support around $385-390. Pre-market strength Wednesday suggests resilience, but volatility persists amid headlines.

As Tesla navigates near-term headwinds, focus remains on Musk’s vision: transforming from an automaker to an AI/robotics leader. Success in FSD approval, Cybercab launches, and Optimus production could drive significant upside, while delays or regulatory setbacks pose downside risks.

Investors eye upcoming data and any de-escalation in global tensions that could stabilize markets. For now, Tesla’s stock reflects a high-stakes bet on disruptive technology in uncertain times.

Companies in the private sector added 63,000 jobs in February, payroll processing firm ADP said Wednesday.

The figure is above economists’ estimates of a gain of 50,000 jobs. The prior month’s payrolls number was revised lower to a gain of just 11,000 from an initially reported gain of 22,000.

“We’ve seen an increase in hiring and pay gains remain solid, especially for job-stayers,” said Nela Richardson, ADP chief economist. “But with hiring concentrated in only a few sectors, our data shows no widespread pay benefit from changing jobs. In fact, the pay premium for switching employers hit a record low in February.”

A construction worker hammers a beam while renovating a road in the Union Market district in Washington, DC, US, on Friday, Sept. 8, 2023. US employment gains will slow significantly and be more concentrated across few sectors in the decade through 2 (Al Drago/Bloomberg via Getty Images / Getty Images)

STANLEY BLACK & DECKER TO CUT HUNDREDS OF JOBS, SHUT CONNECTICUT PLANT

Education and health services added 58,000 positions, leading job creation in February. Construction added 19,000, information gained 11,000 and other services added 6,000.

A professor talks to a group of students in a lecture hall. (iStock)

Financial activities added 2,000 jobs, natural resources and mining gained 2,000 and leisure and hospitality added 1,000 positions.

DEADLIEST JOBS IN AMERICA REVEALED

On the negative side, professional and business services lost 30,000 jobs. Manufacturing lost 5,000 positions and trade, transportation and utilities lost 1,000.

Manufacturing lost 5,000 positions in December, ADP said. (Emily Elconin/Bloomberg via Getty Images)

EBAY CUTS 800 JOBS ACROSS COMPANY OPERATIONS JUST DAYS AFTER DROPPING $1.2B ON TRENDY GEN Z FASHION APP

Large businesses – those with 500 or more employees – added 10,000 jobs in February. Businesses with 50 to 499 employees lost 7,000 workers. Establishments with fewer than 50 employees added 60,000 jobs.

CLICK HERE TO GET FOX BUSINESS ON THE GO

Wage growth in February was little changed from last month. People staying in their roles saw their pay climb 4.5% from the prior year, while pay gains for those changing their jobs fell slightly to 6.3% from 6.4% in January.

‘Newcastle is rivalling cities across the world when it comes to setting the standard for development and regeneration’

Newcastle and Gateshead are gearing up to showcase their portfolio of projects to the world at this month’s prime property event Mipim. Mipim 2026 will see more than 20,000 international delegates, including real estate investors, developers and civic leaders gather in Cannes from March 9 to 13 for the annual networking event.

This year the delegation is set to shine a light on transformative schemes including Pilgrim Street in Newcastle and Baltic Quarter in Gateshead. Organisers say culture-led regeneration, investment in knowledge-intensive industries and placemaking are the key themes for Invest Newcastle, the public and private partnership delivered by NewcastleGateshead Initiative.

The Newcastle delegation will be joined by Newcastle City Council, Gateshead Council as well as Eldon Square, NCG, Ryder Architecture, Avison Young, FaulknerBrowns, Legends Global, Rolton, Aptus, Atkins Realis, CAA ICON, Hanro, igloo, Naylors, NE1, North East Combined Authority, Todd Milburn and Ward Hadaway.

Invest Newcastle will host a three-day programme of panel discussions, presentations, and networking events on their pavilion, highlighting the region’s growing strengths in the creative and cultural sectors, retail, and knowledge-intensive industries such as life sciences and space.

The programme will provide a unique platform to connect with global decision-makers and industry leaders who will share insights and learnings. Speakers on the programme hail from the likes of the New York City Housing Authority, Birmingham City Football Club, Cambridge Innovation Centre and Homes England.

With the overall Mipim theme of ‘Housing Matters’, key residential schemes such as Forth Yards and MetroGreen will be discussed in two panels on the Wednesday and Thursday. Other discussions include shaping cities with Gen Z, delivering lab spaces that lead to medical discoveries, fuelling the AI boom and exploring the space industry.

Pam Smith, chief executive of Newcastle City Council, said: “This year’s programme is a real reflection of the city’s ambitions and how far we have come. Newcastle is rivalling cities across the world when it comes to setting the standard for development and regeneration.

“We understand the clear links between designing the future, the built environment, and the creative industries and MIPIM is one of the key platforms for us to showcase Newcastle and Gateshead’s story. I am looking forward to having conversations with investors from around the world with a shared vision for how we can continue to shape the future of Newcastle, ensuring we are creating a globally competitive place that delivers for our residents.”

Last year saw the North East delegation highlight revamped plans for the former Premier Inn Hotel in Newcastle, with a hotel, housing, bars and restaurants, amongst its prime property opportunities.

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