Back to today’s briefing

Story perspectives

Gulf Markets Plunge Amid U.S.-Israeli Strikes on Iran

3/1/2026

50 8 Full Breakdown

Summary

Story summary

On March 1, 2026, Gulf stock markets fell after U.S. and Israeli strikes on Iran.
Trading in Kuwait was halted due to "exceptional circumstances" amid the tension.
Saudi Arabia's benchmark index fell 2.2% after an initial 4.6% drop, and Al Rajhi Bank and flynas posted losses.
Saudi Aramco rose 3.4%, and analysts forecast heightened volatility and correction risks from Strait of Hormuz disruptions.

History

Historical Context

The Gulf War began on August 2, 1990, when Iraq, led by Saddam Hussein, invaded Kuwait, claiming economic grievances and territorial rights. The U.S. responded by forming a 42-nation coalition, initiating Operation Desert Shield to protect Saudi Arabia. The conflict escalated into Operation Desert Storm, liberating Kuwait by February 28, 1991, and reshaping Middle Eastern geopolitics, with lasting impacts on oil markets and regional stability.

1 of 2

Story summary

On March 1, 2026, Gulf stock markets fell after U.S. and Israeli strikes on Iran.
Trading in Kuwait was halted due to "exceptional circumstances" amid the tension.
Saudi Arabia's benchmark index fell 2.2% after an initial 4.6% drop, and Al Rajhi Bank and flynas posted losses.
Saudi Aramco rose 3.4%, and analysts forecast heightened volatility and correction risks from Strait of Hormuz disruptions.

1 / 2