Feb 28, 2026 · QQQ/SPY Market Review · 28 headlines
U.S. markets were closed on Saturday. The United States and Israel launched strikes on Iran, Iran and allied forces extended the confrontation to Gulf military sites, and reports later described the death of Ayatollah Ali Khamenei and other senior Iranian officials. Oil-tanker traffic through the Strait of Hormuz stopped before Iran announced the strait's closure, while OPEC+ considered a larger output increase. Away from the conflict, Micron opened a $2.75 billion assembly-and-test facility in India for AI-driven memory demand.
Published
U.S.-Israeli strikes on Iran were followed by attacks and interceptions around Gulf military sites, including a reported missile attack on a U.S. Fifth Fleet facility in Bahrain. Later reports said Khamenei and several senior Iranian military and security officials were killed.
Oil-tanker speeds around the Strait of Hormuz fell to zero as companies suspended crude and refined-product transit. Iran later announced the strait's closure, while OPEC+ considered a larger output increase after a three-month pause.
Micron opened a $2.75 billion assembly-and-test plant in Gujarat to increase chip output for AI-driven memory demand, with its next company update scheduled for March 18.
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