Markets fall as Hormuz closure spikes oil prices.

Equities show continued weakness as geopolitical tensions in the Middle East escalate. The Strait of Hormuz is effectively closed following Iranian threats, leaving over 200 vessels stranded and tanker traffic down by 90%. While U.S. officials have promised Navy escorts and price mitigation, unpredictable attacks continue to pressure global energy and metal prices. Looking ahead, the February Nonfarm Payrolls report is expected to show a hiring cooldown with a consensus of roughly 58,000 jobs added. Investors are also monitoring the U.S. Monetary Policy Forum in New York for remarks from Mary Daly, Beth Hammack, and Isabel Schnabel. Key earnings reports from Costco, The Gap, Marvell, Samsara, and Eve Holding are scheduled alongside upcoming U.S. retail sales data.