Aussie Markets Brace for Rough Day

0:00Here's more Sydney news for March 3rd. Australia markets are bracing for another rough day as futures point to a 1.1% drop to $8,937. This follows yesterday's close with the ASX 200 fell, 1.3% to $9,777. Wall Street managed to recover some ground overnight after former President Donald Trump announced the U.S. will protect oil tankers in the straight-of. For mues, oil prices jump 2.7% to $79,87 per barrel for Brent Crude fueled by fears the Middle East. Conflict will drag on longer than expected. Gold took a hit, down 3.9% to $5,120, while silver plunge 7% to $83.16. Traders are on edge with inflation worries rising alongside oil. The Australian dollar weakened 0.7% to 70.45 U.S. since amid safe haven demand for the

1:02greenback. European markets closed sharply lower, with the stock 600 off 3.1%. Big coins slipped 1.4% to $68,481, and iron ore eased 1.1% too, $98.20 a ton. Broad sell-offs show few safe spots amid the wardrobe and turmoil. Traders reflect trading around 7.30 a.m., Australian Eastern daylight time, signaling a messy session ahead as tensions widen. Stay tuned for live updates as the day unfolds. The Daily News Now is grateful to our sponsor for today's episode. Your pillow just got smarter. It plays your podcasts and music. S-O-L-I S-O-L-I S-O-L-E pillow.com.