News

PANews, March 9 — TRON founder Justin Sun tweeted that, in light of recent internal cases related to integrity and digital security, his company reiterates its zero-tolerance policy towards illegal activities. The company is focusing on cracking down on illegal intrusion, unauthorized control of computer systems, embezzlement, bribery of non-state personnel, and fraud, stating that such actions have endangered the safety of company and user assets and information. Justin Sun emphasized that for individuals who profit through improper means and spread rumors online to discredit judicial authorities and mislead the public, the company will cooperate with judicial authorities to hold them accountable according to the law.

(1) As the war between Israel and Iran continues, and concerns over supply disruptions loom over the Strait of Hormuz, most Gulf stock markets opened lower on Monday, with the UAE market leading the decline. International oil prices soared by more than 10% as a result. The US President's tough statement of "no intention to negotiate," along with news of Iran appointing a hardliner as its new Supreme Leader, further extinguished hopes for peace. (2) Dubai's main stock index plunged 3.4%, marking its fourth consecutive day of decline. Since trading resumed on Wednesday, the cumulative drop has exceeded 12%, turning negative for the year. Blue-chip Emaar Properties fell 4.7%, the largest lender Emirates NBD dropped 4.3%, and budget airline Air Arabia also slid 5%. (3) The Abu Dhabi index fell 1.7%, recording a six-day losing streak, with Abu Dhabi Commercial Bank leading the decline, down 4.9%. Previously, both exchanges announced a temporary lower price limit for securities set at -5%. The Qatar index dropped 2.5%, with QNB, the largest bank in the Gulf by assets, down 2.7%. (4) The credit market was also on edge. Data showed Bahrain's five-year credit default swaps surged 23 basis points to 281, hitting a more than three-year high. Egypt's CDS jumped 12 basis points, while CDS for Saudi Arabia, Qatar, Abu Dhabi, and Dubai all rose by 4 basis points. (5) Saudi Arabia's benchmark index fell 1%, ending a five-day winning streak. Al Rajhi Bank and Saudi Arabian Mining Company dropped 2% and 3.5%, respectively, while budget airline flynas fell 3.6%. Saudi Aramco edged up 0.3%, with the market awaiting its annual financial report to be released on Tuesday. (6) Sky Links Capital Group believes that rising oil prices could have boosted the income of oil-producing countries, but disruptions in the Strait of Hormuz are suppressing the benefits by hindering transportation and limiting output. However, thanks to pipeline infrastructure that can maintain partial crude oil exports, the UAE and Saudi Arabia are in a relatively better position. Oman was one of the few markets to rise on Monday, with its stock index gaining 3.2%.

According to Jinse Finance, on March 9, 2026, The Wall Street Journal published an article stating that the global energy shock triggered by the blockade of the Strait of Hormuz has escalated into the most severe energy crisis since the 1970s. WTI crude oil surged 22% intraday, breaking through $110 per barrel, while European natural gas soared 70% in two days. The risk of global stagflation has risen sharply, creating a dual impact on the crypto market: inflationary pressure and increased mining costs.