Public Markets 3h Briefing
×Last updated: March 12, 2026, 5:31 AM ET
Automotive Sector Turmoil
Honda Motor Co. warned of a $15.7 billion hit bloomberg.com after canceling EV launches and development plans in North America, joining a growing list of automakers reassessing electric vehicle strategies amid softening demand. The Japanese carmaker's ¥2.5 trillion impairment charge reflects broader industry challenges, with BMW projecting flat margins bloomberg.com due to tariff costs and intensifying Chinese competition. Daimler Truck reported wsj.com a 29% drop in adjusted EBIT on declining sales in key markets, though order intake showed modest growth. Meanwhile, RWE announced plans wsj.com to invest heavily in U.S. energy infrastructure under a $40 billion five-year plan, targeting earnings growth and shareholder returns.
Energy Markets and Geopolitics
Oil prices briefly topped $100 per barrel wsj.com as Middle East tensions escalated, with crude futures climbing on fears of supply disruptions through the Strait of Hormuz. India is negotiating with Iran bloomberg.com to secure safe passage for over 20 tankers amid shipping turmoil, while European natural gas followed oil higher bloomberg.com as the shipping crisis worsens. Putin's envoy discussed bloomberg.com the global energy crisis with U.S. officials in Florida, highlighting diplomatic efforts to address market volatility. The dollar is on course for a 2026 high bloomberg.com as the Iran conflict keeps energy prices elevated, driving up hedging costs for Indian importers facing a record-low rupee.
Financial Sector Developments
JPMorgan Chase and UBS cut ties with a Hong Kong hedge fund bloomberg.com before authorities raided the firm in a $300 million insider trading probe. The investigation alleges brokers accepted bribes for share placement information, with the fund's prime brokerage relationships severed well before the probe became public. Deutsche Bank raised bloomberg.com its bonus pool by 6.6% despite mixed performance, while facing nearly $1 billion in combined claims from five former managers who say they were wrongfully blamed in the Italian Paschi case. The German lender warned of higher litigation charges bloomberg.com as ex-employees seek £600 million over the investigation that led to Italian convictions.
Defense and Technology
Italian defense contractor Leonardo targets higher revenue wsj.com as the defense order boom continues, expecting orders to rise to 25 billion euros this year from 23.8 billion euros in 2023, with a goal of reaching 32 billion euros by 2030. Meanwhile, Tesla's energy division secured bloomberg.com a UK license to supply electricity, giving the company access to British homes and businesses. The move comes as Honda reassesses bloomberg.com its EV strategy, highlighting the divergent paths of traditional automakers and tech-focused energy companies in adapting to market shifts.
Market Sentiment and Trading
Foreign investors sold the most Japanese stocks bloomberg.com since November, part of a broad risk-off move following the Iran conflict. The selling extended to Japanese stock futures and cash equities, reflecting heightened geopolitical uncertainty. European bonds fell bloomberg.com for a second day, pushing German 10-year yields to their highest since October 2023 as energy price spikes fuel inflation fears. In corporate news, John Lewis paid ft.com its first annual bonus to staff in four years at 2% of salary, offsetting benefit cuts including its final salary pension scheme.