US stock markets concluded Friday with significant declines, marking the fourth consecutive week of losses for major indices. The Dow Jones Industrial Average and Nasdaq Composite both edged closer to correction territory. In post-market trading, former US President Donald Trump stated on social media that "we are very close to achieving our objectives," noting that US authorities were considering a gradual de-escalation of military actions against Iran. During late trading hours, Trump indicated openness to dialogue with Iran but emphasized he currently opposes a ceasefire. Additional reports suggested the US has prepared detailed plans for potential ground troop deployment in Iran.

The Dow fell by 443.96 points (0.96%) to close at 45,577.47, while the Nasdaq dropped 443.08 points (2.01%) to 21,647.61. The S&P 500 declined by 100.01 points (1.51%) to settle at 6,506.48. SUPER MICRO COMPUTER INC shares plummeted over 33%, with NVIDIA Corporation falling 3.2% and Micron Technology declining 4.8%. The Nasdaq Golden Dragon China Index decreased by 2.8%, while XPeng Inc. shares dropped 8.2%.

European markets also experienced substantial losses. Germany's DAX30 index fell 484.21 points (2.12%) to 22,368.27, and Britain's FTSE 100 declined 157.51 points (1.57%) to 9,905.99. France's CAC40 dropped 142.25 points (1.82%) to 7,665.62, while the Euro Stoxx 50 decreased by 112.93 points (2.01%) to 5,500.90. Spain's IBEX35 fell 217.14 points (1.28%) to 16,688.76, and Italy's FTSE MIB dropped 847.88 points (1.94%) to 42,853.50.

Cryptocurrencies showed modest gains, with Bitcoin rising 0.66% to $70,659.35 and Ethereum increasing 0.59% to $2,153.10.

International oil prices advanced on Friday. April delivery West Texas Intermediate crude rose $2.18 to $98.32 per barrel, representing a 2.27% increase. May delivery Brent crude futures climbed $3.54 to $112.19 per barrel, a 3.26% gain. UBS Group raised its oil price forecasts for 2026-2027, citing potential closure of the Strait of Hormuz and ongoing Middle East conflicts. The bank increased its 2026 forecast by $14 to $86 per barrel and its 2027 projection by $10 to $80 per barrel. Analysts noted these projections assume continued conflict for 2-3 weeks through early April, with significantly reduced oil flow through the Strait of Hormuz, assuming no damage to major oil fields and terminals, and gradual but incomplete recovery of flows from April onward.

The US Dollar Index, which measures the dollar against six major currencies, rose 0.42% to 99.641. In late New York trading, the euro traded at $1.1559, down from $1.1560 previously. The British pound fell to $1.3337 from $1.3404. The dollar strengthened to 159.22 Japanese yen from 157.83, while declining to 0.7885 Swiss francs from 0.7905. Against the Canadian dollar, it decreased to 1.3707 from 1.3727, but rose to 9.3594 Swedish krona from 9.3180.

Precious metals experienced sharp declines. Spot gold fell 3.43% to $1,498.31 per ounce, recording a weekly loss of approximately 9.5%. Silver dropped more significantly, declining 6.89% to $67.801 per ounce with a weekly loss exceeding 14%. Independent precious metals trader Tai Wong commented that gold and silver prices were being dragged lower as market concerns intensified ahead of the weekend, noting particular volatility following this week's rate hike concerns. He suggested prices should consolidate soon but expected a bumpy process. Major global brokerages indicated increasing likelihood of interest rate hikes by the European Central Bank and Bank of England, potentially as early as April. The Federal Reserve maintained interest rates unchanged on Wednesday while projecting higher inflation, with Chair Powell noting exceptionally high uncertainty in the policy path due to war impacts.

Former President Trump reiterated he currently opposes a ceasefire, expressing confidence the Strait of Hormuz would eventually reopen automatically despite allies' reluctance to assist. He stated NATO could help but lacked courage, emphasizing that Europe, South Korea, Japan and other nations dependent on the strait should participate in resolving the issue. Trump also claimed media polls showed his approval rating at 100%.

Reports indicated the US Department of Defense has prepared detailed plans for potential ground troop deployment in Iran. Sources familiar with briefings revealed senior military commanders have submitted specific requests to prepare for various options as Trump considers US-Israel led actions in the conflict. While Trump previously told reporters he wouldn't deploy troops anywhere, he added he wouldn't disclose such decisions if made. Military meetings have also addressed handling potential Iranian prisoners if ground troops are deployed.

Federal Reserve Governor Waller stated he initially planned to vote for rate cuts at this week's meeting following unexpected February unemployment data, but withdrew support due to oil supply tensions and persistent inflation threats. He noted the Strait of Hormuz blockade suggests prolonged conflict and sustained high oil prices, making inflation more concerning. The duration would depend on energy price increases and their persistence.

Fed Governor Bowman maintained her expectation for three rate cuts this year, stating it's too early to assess the Iran war's impact. She anticipates strong economic growth due to government supply-side spending, expressing continued concern about labor markets despite not hearing about corporate layoffs. Regarding banking regulation, Bowman emphasized ensuring reforms consider bank needs and adjusting rules according to bank characteristics. She's monitoring private credit and AI sector leverage, ensuring regulators identify related risks. Bowman looks forward to collaborating with Kevin Warsh if confirmed, noting significant Fed impact from his appointment. Regarding Chair Powell, she stated he has clarified his tenure arrangements and should explain his plans himself.

The US Commodity Futures Trading Commission issued FAQs on crypto assets and blockchain businesses, enhancing regulatory consistency. The guidance clarifies compliance for registered institutions and trading entities, addressing tokenized collateral and digital assets as margin, supplementing previous staff letters on tokenized custody and digital asset margin exemptions. CFTC Chair Mike Selig noted Project Crypto's collaboration with the SEC represents an important step toward clearer, unified crypto regulation.

Strategy Analytics CEO Phong Le suggested on platform X that Morgan Stanley's wealth management business, with approximately $8 trillion assets under management, could potentially allocate 2% to Bitcoin, representing about $160 billion in potential buying pressure—triple the current size of BlackRock's Bitcoin ETF IBIT. He described this potential demand as "Monster Bitcoin," indicating significant impact on prices and liquidity.