Public Markets 3h Briefing
×Market Turmoil
Stock futures bloomberg.com erased gains after Bessent signaled 15% tariffs would likely take effect this week. The KOSPI fell 12% investing.com in a single day amid massive foreign investor liquidation. Container shipping companies have begun halting bookings and diverting vessels as they respond to increasing security risks in the Middle East wsj.com.
Geopolitical Impact
The Pentagon reported investing.com US achieved air superiority over Iran four days into operation. NATO defenses are shielding Turkey as the Iran conflict spills into alliance territory investing.com. The war is putting renewed focus on Iran's $7.8 billion cryptocurrency market, which citizens and authorities have increasingly turned to for storing and sending money bloomberg.com.
Energy Markets
Oil bloomberg.com is facing a "crisis of shipping" with no obvious solution, according to analyst Paul Sankey. Russia's flagship crude blend is still trading at deep discounts despite a global oil rally driven by the growing escalation in the Middle East bloomberg.com. The EU will direct the bloc's executive arm to propose measures to lower power prices to aid local industries when leaders meet at a summit later this month bloomberg.com.
Corporate News
Moderna investing.com shares jumped as a settlement removed major legal overhang. Brown-Forman reported higher third-quarter sales as fiscal-year growth in emerging markets helped counter weakness in the US and developed markets wsj.com. Bath & Body Works reported lower fourth-quarter profit but said its strategy pivot to refocus on core products was making progress wsj.com.
Economic Data
US private payrolls investing.com increased by more than expected in February according to ADP. Institutional demand is driving the return of single-stock inflows, according to Bank of America investing.com. The Fed could still cut rates twice on a quick Iran resolution, Goldman's Trivedi said bloomberg.com.
Regional Markets
European natural gas prices investing.com dropped amid reports of secret Iran peace outreach. UK economists warn the country is in a poor position to help households if energy costs surge given the level of public debt ft.com. The TSX futures rose as oil and gold climbed amid ongoing Iran conflict investing.com.