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Market news: The Iranian military announced today that it shot down seven drones in different parts of the country. Since the start of the war, Iran has claimed to have shot down 29 drones.
March 3 - According to AXIOS, citing sources familiar with the matter, Democrats in the U.S. House of Representatives and Senate are preparing a response to the dispute between the Pentagon and Anthropic, including a measure aimed at preventing federal agencies from punishing artificial intelligence companies over the dispute. California Democratic Representative Sam Licardo plans to introduce an amendment to the Defense Production Act that would prohibit federal agencies from retaliating against suppliers of artificial intelligence and emerging technologies.
The U.S. Embassy in Kuwait has instructed its staff to continue to seek refuge in Kuwait.
JPMorgan Chase CEO Jamie Dimon: The current situation will cause natural gas prices to rise slightly.
JPMorgan Chase CEO Jamie Dimon: If the conflict in Iran does not prolong, there will be no severe inflation.
The Kuwaiti Army said a navy soldier died on Monday during an "operation" by the armed forces.
Israeli Ambassador to the United Nations Dani Danon: I believe the freedom of the Iranian people "will come sooner or later".
Israeli Ambassador to the United Nations Dani Danon: We will take all necessary measures to ensure that Iran does not possess nuclear weapons capabilities.
US General: (Regarding the situation in Iran) Local air superiority has been established.
Israeli Ambassador to the United Nations Dani Danon: We will take all necessary measures to protect our people and defend our borders.
According to Saudi media Al Hadath, Israeli officials said war preparations will continue until early next month.
According to the state news agency, Jordanian King Abdullah emphasized to US President Trump his firm opposition to Iranian attacks on his territory and several other countries in the region.
The Federal Reserve accepted a total of $627 million from four counterparties in its fixed-rate reverse repurchase operations.
S&P: The ongoing stalemate in the Middle East will trigger credit pressure.
March 3 – Former US Treasury Secretary Janet Yellen stated that the duration of the impact of the Iranian conflict on the oil market will determine the extent of its damage to US economic growth and the resulting inflationary pressures, further complicating the Federal Reserve's work. Speaking at a video conference in Long Beach, California on Monday, Yellen, the former Fed chair, said, "I think the recent situation with Iran has made the Fed more hesitant and less willing to cut interest rates than before this happened." Yellen pointed out that the current inflation rate is already about one percentage point higher than the Fed's target. She stated that President Trump's tariff policies have contributed about half a percentage point to the current 3% inflation rate. Speaking at the S&P Global TPM26 shipping conference, she said, "Now we have the Iranian shock, and oil prices have risen sharply—we don't know what will happen in the next few days." Yellen said that if the closure of the Strait of Hormuz, through which a large volume of oil shipments from the region pass, continues for more than a few days, oil prices could remain high or rise further.
The U.S. Court of Appeals remanded jurisdiction of the tariff litigation to the Court of Trade, which will decide on the next steps.
U.S. Treasury Department: The Rwandan Defence Force provided support to the M23 armed group during its occupation of eastern Congo.
A spokesperson for the Israel Defense Forces stated that the Air Force has conducted more than 1,000 combat missions in Iranian airspace to date.
Fitch Ratings: Artificial intelligence disruption raises concerns about the risk exposure of alternative investment management software.
The Dubai Roads and Transport Authority and Dubai Police will allow trucks to travel throughout Dubai until March 4 to ensure the smooth operation of the supply chain.
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