Iran approves! The Strait of Hormuz new regulations implemented, plans to charge passing vessels

Source: Securities Times Network Author: Zhang Xiaojing

Keep an eye on the overnight market.

On Monday, March 30 (local time), all three major U.S. stock indexes ended mixed, with the Dow up 0.11%, the Nasdaq down 0.73%, and the S&P 500 down 0.39%, closing at its lowest level since last August. Technology stocks remained under sustained pressure, mainly because concerns kept growing about whether massive investments in artificial intelligence (AI) can generate returns, while the Iran war, which has been escalating continuously in recent days, further dampened risk appetite.

International oil prices surged. West Texas Intermediate finished up, and the closing price of U.S. crude rose above $100 per barrel for the first time since 2022. According to reports, on March 30 (local time), Iran’s parliament passed a bill to levy fees on ships transiting the Strait of Hormuz and to ban U.S.-and-Israeli ships from transiting the strait, while the U.S. side threatened to “fully destroy” Iran’s oil facilities. Meanwhile, the prospects for U.S.-Iran negotiations remained unclear. Trump hopes to reach an agreement before April 6; Iran reiterated that it has not held direct talks with the U.S.

Micron plunges nearly 10%

Most large-cap tech stocks fell. Micron Technology fell nearly 10%, ARM, ON Semiconductor, and Super Micro Computer fell more than 4%, AMD fell nearly 3%, Tesla and Nvidia fell more than 1%, while Apple and Netflix and Google-A fell slightly. META rose more than 2%, while Amazon and Microsoft rose slightly.

Chip stocks tumbled across the board. The Philadelphia Semiconductor Index fell 4.23%, Advanced Micro Devices fell more than 11%, Western Digital fell more than 8%, SanDisk fell more than 7%, Intel fell more than 4%, and ASML and TSMC fell more than 3%.

Technology stocks continued to face pressure, mainly because concerns about whether massive investments in artificial intelligence (AI) can deliver returns kept intensifying, and the Iran war, which has been escalating continuously in recent days, further hit risk appetite.

The Nasdaq 100 entered a technical correction range last Friday (i.e., down at least 10% from its recent high). This is the first time such a situation has occurred since April 2025. The so-called “Seven Giants”—Nvidia, Microsoft, Apple, Google’s parent company Alphabet, Amazon, Meta, and Tesla—have all fallen by at least 10% or more from their respective all-time highs.

Analysts noted that although large-cap tech stocks have been sold off recently, pushing the Nasdaq 100 into a technical correction, the brutal selloff is now showing certain signals—signals that in the past have often indicated that a turning point in this sector’s行情 is coming.

Energy stocks were mixed. U.S. energy stocks fell nearly 8%, Schlumberger fell more than 3%, Halliburton fell more than 2%, and Murphy Oil, ConocoPhillips, and Chevron fell slightly. Petrobras, Exxon Mobil, and Shell rose slightly, while Occidental Petroleum and BP rose more than 1%.

Aviation stocks fell across the board. Alaska Airlines fell more than 5%, Ryanair fell more than 4%, United Airlines fell more than 3%, Southwest Airlines fell nearly 3%, Delta Air Lines fell more than 2%, American Airlines fell more than 1%, and Boeing fell 0.69%.

The Nasdaq Golden Dragon China Index fell 0.36%. Among popular Chinese concept stocks, Baozun rose more than 11%, iQIYI rose more than 5%, NIO, TAL Education, and Zhihu rose more than 3%, Trip.com, UpWest, and STO Express rose more than 1%, while Bawang Tea, Dindong Maicai, and Li Auto rose slightly. Alibaba and Vipshop fell slightly; XPeng Motors and PDD fell more than 1%; Xiaomi Group (ADR) and Bilibili fell more than 2%; Miniso Group rose more than 3%.

Iran’s parliament approves a bill to charge tolls for ships transiting the Strait of Hormuz

According to China Central Television (CCTV) News, on March 30 (local time), Iran’s parliamentary National Security Committee approved a bill to charge ships transiting the Strait of Hormuz. The planned measures include implementing financial arrangements and a charging system in the form of Iranian rials; banning ships of the United States and Israel from transiting the Strait of Hormuz; maintaining Iran’s and its armed forces’ dominant position; banning countries that participate in unilateral sanctions against Iran from transiting; and Iran would cooperate with Oman to develop the relevant legal framework.

U.S. Secretary of State Rubio said on the 30th that the U.S. will never allow Iran to permanently control the Strait of Hormuz or establish a charging system, etc. He said that if Iran blocks the Strait of Hormuz after the war ends, it would “face serious consequences.” Rubio added that the objectives of U.S. military action toward Iran are very clear, and that the U.S. aims to achieve its military action goals “in weeks rather than months.”

White House: Dialogue between the U.S. and Iran is still ongoing and progress is going smoothly

White House press secretary Leavitt said that dialogue between the two sides of the U.S. and Iran is still ongoing and progress is going smoothly. Leavitt said Iran has agreed to some of the points proposed by the U.S. side in private talks. As for the specific details, since the negotiations are still ongoing, they will not make them public. On March 30 (local time), Iran’s foreign ministry spokesperson Baghaei said that Iran has not held any talks with the U.S. so far.

Also, according to Xinhua News Agency, on March 30, White House press secretary Leavitt said that President Trump hopes to reach an agreement with Iran before the April 6 deadline. Trump previously said that at Iran’s government’s request, the U.S. would pause strikes against Iran’s energy facilities for 10 days, resuming at 8:00 p.m. Eastern Time on April 6.

U.S. crude settles above $100 for the first time in nearly four years

On March 30 (local time), following U.S. and Israel’s military action against Iran, the closing price of U.S. oil in that day’s trading first broke through the $100 per barrel mark.

That day, West Texas Intermediate (WTI) futures rose more than 3% and closed at $102.88 per barrel, setting a new high since July 2022. At the same time, the international benchmark Brent crude oil is also on track to post the largest month-on-month percentage gain in history for March.

$100 per barrel is viewed as a key psychological level that traders and market participants are focused on. Crude prices have been climbing steadily since the outbreak of the Iran war. The conflict has entered its fifth week. Despite U.S. diplomatic efforts last week, there has still been no sign of easing. Shipping through the strategically crucial Strait of Hormuz has nearly come to a complete standstill.

International precious metals futures generally finished higher. COMEX gold futures rose 0.36% to $4,540.40 per ounce, and COMEX silver futures rose 0.55% to $70.18 per ounce. Tight Middle East geopolitical tensions boosted safe-haven sentiment. Combined with the release of “wait-and-see” signals on monetary policy by major central banks such as the Federal Reserve, markets have remained cautious in their assessment of the liquidity environment, jointly supporting gains in precious metal prices.

(Editor: Wen Jing)

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