Nasdaq Reversal: Buy From the Dip Amid Iran Conflict
The Nasdaq briefly made a major comeback on Monday (March 2). After opening sharply lower, the technology index briefly reversed and approached positive territory, as investors began to "buy the dip" while monitoring the escalation of the conflict following the US and Israeli attacks on Iran over the weekend.
In the latest update, the Nasdaq edged down around 0.1%, while the Dow Jones Industrial Average fell 0.3% and the S&P 500 fell 0.2%. However, all three indexes managed to rebound from their daily lows, indicating selling pressure is easing.
The recovery came after major technology stocks rallied and pared losses, led by giants like Nvidia and Microsoft. Previously, the Nasdaq had fallen as much as 1.6%, while the S&P 500 and Dow both fell around 1.2% at session lows.
On the safe-haven side, gold futures jumped around 1% as investors increased portfolio protection. Meanwhile, the VIX volatility index—often referred to as Wall Street's "fear gauge"—surged to its highest level in 2026, indicating increased demand for hedging.
The market remains clouded by geopolitical uncertainty following the joint US-Israeli attack that killed Iranian Supreme Leader Ayatollah Ali Khamenei. Iranian officials have vowed retaliation, sparking fears of a wider conflict in the region, as reports of explosions were heard in locations such as Dubai and Abu Dhabi.
Source: Newsmaker.id
