On March 1 local time, Saudi Arabia's Tadawul All Share Index (TASI) opened with a sharp decline, at one point dropping nearly 5%. By the time of writing, the loss had narrowed rapidly to 1.2%. Banking stocks, including Saudi National Bank and Riyad Bank, saw significant declines. In the cryptocurrency market, major digital currencies rallied collectively, with Bitcoin briefly surpassing $68,000 before settling near $67,000. Over the past 24 hours, more than 100,000 traders across the market faced liquidations. The previous day, Bitcoin experienced a steep drop following reports of U.S. and Israeli military strikes against Iran, falling below the $65,000 and $64,000 thresholds. Additionally, according to reports, the Kuwait Stock Exchange announced a suspension of trading starting March 1 due to the evolving situation, until further notice. On February 28, sources from multiple trading institutions indicated that after the U.S. and Israel attacked Iran, Iran announced the closure of the Strait of Hormuz. Several oil tanker owners and traders have halted the transport of crude oil, fuel, and liquefied natural gas through the strait. According to the German Shipowners' Association, the shipping industry is facing an "acute operational crisis." Reuters quoted a senior executive at a major trading firm who stated, "Our vessels will remain anchored for several days." Satellite imagery showed numerous ships stalled near major ports such as Fujairah in the UAE, unable to pass through the Strait of Hormuz. Lin Ye, Deputy Director of Oil Market Research at Rystad Energy, pointed out that if the situation does not de-escalate by this weekend, risk premiums could push Brent crude futures up by $10 to $20 per barrel at the opening next Monday. Should the conflict expand to affect oil infrastructure or disrupt shipping in the Persian Gulf, oil prices could surge further out of control.