🌏 Morning Market Update - 03 March 2026 Risk appetite is fading fast across global markets as traders reprice the Middle East escalation and its knock-on effect on energy, inflation and rates. 📉 Asia under pressure: the MSCI Asia-Pacific (ex-Japan) index extended losses for a second day, while Japan’s Nikkei slid about 2.3%. South Korea led the downside with the KOSPI dropping as much as 4.1% on the session. 📊 Futures point lower: US S&P 500 e-mini futures were down about 0.6%, keeping the market in a cautious, defensive mood ahead of the European and US sessions. 🛢️ Oil stays elevated: Brent added roughly 2% and traded near $79.22 as supply risk remains in focus amid renewed threats around the Strait of Hormuz and broader regional disruption. 💵 Dollar firm: the dollar index held near a six-week high (~98.50) as safe-haven demand returns. 📈 Bonds lose momentum: higher energy prices are pulling inflation back into the spotlight, complicating the outlook for rate cuts even as volatility keeps investors cautious. The US 10-year yield hovered near 4.04%. 🥇 Gold up, crypto softer: gold rose to around $5,358, while bitcoin slipped to about $68,399 and ether to roughly $2,013. ⚠️ Bottom line: markets are trading the same theme everywhere - geopolitics feeds oil, oil feeds inflation risk, and inflation risk keeps rates higher for longer. Stay sharp, manage risk, and keep an eye on today’s key releases in the Economic Calendar. 📅✅ Follow NordFX for daily market context and trading ideas. 🚀