Stock Market Today, Mar. 4: Panic continues in Asian markets as Iran conflict boils

This live blog is refreshed periodically throughout the day with the latest updates from the market.To find the latest Stock Market Today threads, click here.Happy Wednesday. This is TheStreet’s Stock Market Today for Mar. 4, 2026. You can follow the latest updates on the market here in our daily live blog.Update: 12:54 a.m. ETA.M. Update: More trouble in AsiaGood morning. Escorts and the promise of insurance from the U.S. might be enough to convince oil tankers to try its hand at passing through the tense Strait of Hormuz, but none of it is necessarily a guarantee that energy products arrive intact. And tonight, that's proving to be a problem for Asian markets, which count themselves reliant on that key crossing.South Korea's KOSPI once again is saddling the steepest decline in Asia, with circuit breakers stopping trading earlier today. The index is now near day lows, down nearly 11.5%, making it the worst two-day stretch for the country's market since 2008. The Korean won also hit a 17-year low amid worries that the country, which relies on imports from the Middle East to meet its energy needs, will be affected by the ongoing conflict in Iran. Other countries across Asia are facing a similar cascade, including Thailand, which saw its stock market halted after an 8% decline. More tepid declines in Taiwan's TAIEX (-4.35%) and Japan's Nikkei 225 (-3.68%) are also playing out, while India's NIFTY 50 (-2%) is registering declines as the rupee hit a record low. And as a new day dawns in Europe, the Stoxx 600 looks like it might soon be sharing in those declines, based on futures data. In a short few hours, the U.S. markets might follow suit as this week's declines continue to play out. At last glance, S&P 500futures were about half a percentage point lower; the Russell 2000 futures were closer to a one percent decline.That said, here is what will be on the docket for today:Earnings Today: Broadcom, Veeva, Brown-FormanThough the Iran situation is front and center, there are still dozens of reports rounding out the latest quarter. Here are the biggest reports slated for today: Economic Data Today: ISM Services PMI, ADP Employment, EIA Crude Oil StocksHere are today's big economic data reports today, which will be anchored by February's ISM Services PMI and ADP Employment Change data.