Dow drops 1.1% at market open, S&P 500 drops 1.1%, Nasdaq drops 1.6%

Defense stocks rose sharply, with Lockheed Martin up 5.4% and drone manufacturer AeroVironment up 12.3%. Oil stocks strengthened, with Exxon Mobil and Chevron both rising by about 4%, and ConocoPhillips rising by over 5%. Airline stocks fell, with Delta Air Lines dropping 5.7%, American Airlines and United Airlines both falling by at least 6%. Bank stocks generally declined, with JPMorgan Chase, Goldman Sachs, Morgan Stanley, and Bank of America all falling by over 1%, and Citigroup dropping 2.5%. Tesla fell by 3.0%, and in February, new registrations in Norway and France decreased by 88% and 14.7% year-on-year, respectively.