Public Markets 3d Briefing
×Market Turmoil
The S&P 500 investing.com closed lower as tech stocks dragged the index down, with Nvidia shares falling after earnings. Bitcoin investing.com dropped below $67,000 as speculative assets took a hit amid the slide in stocks. US bonds wrapped up their biggest monthly rally in a year, with short-term yields falling to levels last seen in 2022, as investors sought refuge from mounting global risks and a selloff in stocks bloomberg.com.
Geopolitical Shockwaves
US and Israeli strikes on Iran sent shockwaves through global markets, with oil prices spiking as traders assessed the impact on Middle East supplies bloomberg.com. The attack created what analysts called a "nightmare scenario" for Gulf countries, with Dubai defense systems repelling Iranian drones and missiles as random explosions and plumes of black smoke could be seen rising out of the city-state's most celebrated neighborhood bloomberg.com. Israel ordered the temporary shutdown of some natural gas fields after launching the attack on Iran in a joint operation with the US bloomberg.com.
Energy Markets
OPEC+ eyed an aggressive production hike following the Israeli strike on Tehran, while insurers prepared to cancel policies and raise prices for ships in the Gulf and Strait of Hormuz, with brokers saying the cost of cover could increase by as much as 50% after the conflict erupted ft.com. The US and Israel struck targets across Iran, with President Donald Trump urging Iranians to overthrow the government in a conflict that is already spiraling across the oil-rich Middle East bloomberg.com.
Corporate Moves
Berkshire Hathaway's operating profit slid nearly 30% on insurance underwriting, while Greg Abel told Berkshire investors its cash pile is not a retreat from dealmaking investing.com. Trump Media is in talks to spin off Truth Social into a new publicly traded company, as the company explores strategic alternatives wsj.com. JPMorgan cut services for Citadel Securities in a clash over roles, underscoring tensions between Wall Street banks and clients as businesses converge ft.com.
Technology Sector
Block's 40% headcount cut was seen as an AI-driven reset, according to Bernstein, while Microsoft upgraded Block Inc on increasing TAM and AI-driven profit investing.com. Anthropic's cyber launch was not seen as an existential risk to the sector, Bernstein said, while Nvidia and Salesforce earnings dominated market discussions bloomberg.com. Apple was seen as an "anti-AI" safe haven, according to MoffettNathanson investing.com.
International Markets
The yuan extended gains on Thursday, marking its longest winning streak against the greenback since 2010, after China's daily fixing signaled tolerance for a managed appreciation bloomberg.com. Abu Dhabi raised $3 billion from a sale of dollar bonds in its first debt offering of the year, while Hong Kong's luxury home market was expected to cool off following a recent stamp duty increase before rebounding in the second half bloomberg.com. Europe's biggest port warned that it's increasingly exposed to geopolitical risks related to trade with China bloomberg.com.
Economic Indicators
US payrolls growth probably settled back in February after the strongest month of hiring in a year, returning to a more moderate and likely sustainable pace of hiring bloomberg.com. China may trim its 2026 growth target while keeping policy supportive, according to Bof A, as the country navigates economic headwinds investing.com. South Africa's latest budget painted an encouraging picture of improving public finances, according to Moody's Ratings, while cautioning that "meaningful" debt reduction will require stronger economic growth bloomberg.com.
Commodities
Lithium's bottom was seen as in, with global demand set to jump 25% as the EV market recovers investing.com. Gold wagers hit a 16-week high as risk-off sentiment grew amid geopolitical tensions, while traders debated how to ride the commodities supercycle as metals, wheat, oil and other physical assets could help diversify portfolios in turbulent times ft.com. A prehistoric skeleton found deep in a flooded Mexican cave was likely placed there in a ritual, while Bolivian authorities scrambled to destroy what likely amounts to millions of dollars worth of local currency that suddenly fell from the sky in a deadly plane crash bloomberg.com.