Public Markets 3d Briefing
×Market Volatility
The S&P 500 bloomberg.com fluctuated as traders debated the potential market impact from an escalating conflict in the Middle East that triggered a spike in oil prices. Stocks sold off bloomberg.com as the US attack on Iran drove oil prices higher, with gold rallying and oil prices surging as the Strait of Hormuz all but closed to shipping. Threat of $100 oil bloomberg.com means buying the dip in US stocks is risky, as Wall Street strategists and investors turn to a traditional playbook that says stock-market dips triggered by sudden geopolitical flareups are almost always good buying opportunities.
Oil & Energy Markets
Oil prices bloomberg.com surged the most in four years as the Iran war threatened to snarl shipping lanes, stoking inflation fears that pummeled Treasuries amid diminishing odds for a rate cut. Gasoline prices bloomberg.com surged amid the Iran attack, creating a liability for Trump as the first day of trading after the US and Israel launched attacks on Iran threatened to blot out one of the biggest bright spots of President Donald Trump's energy policy. Oil supertanker rates soared to record levels on Middle East conflict, with the cost of hauling crude oil from the Middle East to China reaching the highest level on record as war between the US and Iran disrupts shipping through the Strait of Hormuz.
Geopolitical Developments
Qatar bloomberg.com downed a pair of Iranian fighter jets in the first known destruction of crewed aircraft from the Islamic Republic in combat since fighting began last week. US Defense Secretary Hegseth bloomberg.com said Iran does have long-strike capabilities, explaining that defensive assets were sent to the region ahead of the war with Iran. UK Prime Minister Starmer bloomberg.com urged a return to diplomatic process for the US and Iran, extending the UK's support and solidarity to its allies in the region and urging Tehran to avoid further escalation.
Private Equity & M&A
Ares bloomberg.com emerged as the lead buyer in a $2.2 billion Arcmont secondary sale, according to people familiar with the matter. BlackRock's GIP and EQT ft.com made a $33 billion bet on electricity demand, teaming up to purchase power plant operator AES which has struggled on the stock market. JPMorgan bloomberg.com is set to start debt deal for a $55 billion EA buyout next week, formally beginning the process of selling syndicated debt for the record leveraged buyout of Electronic Arts Inc.
Infrastructure & Utilities
BlackRock's GIP and EQT wsj.com agreed to acquire AES for $10.7 billion, with the consortium of investors including BlackRock's Global Infrastructure Partners and investment group EQT set to take the power and utility group private. AES's private equity buyers ft.com pulled off the self-leveraging buyout, with investors in the power and utility group potentially expecting more but unclear if they had a right to.
Credit & Debt Markets
Ex-Goldman CEO bloomberg.com fears a 'reckoning' as private credit chases Main Street, ringing alarm bells as Wall Street steers cash from US savers into its latest lending binge. JPMorgan bloomberg.com tested the 'art of the possible' in leveraged buyouts when it took the lead last year in financing the $55 billion takeover of Electronic Arts Inc., a record-setting leveraged buyout that Wall Street saw as a sign that a lucrative period may be ahead.
Emerging Markets
EM stocks and currencies ft.com came under pressure as the US dollar jumped, with hedge funds rethinking emerging market bets after US-Israel strikes on Iran. JPMorgan bloomberg.com dialed back bullish emerging-markets calls on the Iran war, reducing the scale of its overweight recommendations on emerging-market currencies and local bonds due to the risks posed by the US attack on Iran.
Technology & AI
Nvidia-backed 'open' AI start-up ft.com courted investors at a $20 billion-plus valuation, with Reflection AI's new funding talks coming as the Trump administration seeks US rivals to China's DeepSeek. AI is blowing up finance.yahoo.com one of shadow banking's biggest bets, with concerns about AI disruption triggering a credit market selloff in software debt.
Manufacturing & Trade
US manufacturing activity investing.com expanded as input prices spiked, with the Institute for Supply Management's manufacturing index showing growth despite rising costs. Korea export momentum bloomberg.com continued, easing monetary policy pressure as South Korea's exports accelerated in February, reinforcing the central bank's view that solid semiconductor demand is helping cushion the economy.
Commodities & Precious Metals
Investors ft.com turned to gold, not bonds, as a haven from war in Iran, with gold and the US dollar jumping but government bonds falling amid fears of an inflation shock. Gold wagers hit a 16-week high as risk-off sentiment grew amid the escalating Middle East conflict.
Real Estate & Construction
UK house prices investing.com rose 0.3% in February as the market recovery continued, with the Halifax reporting the modest increase in average property values. Builder yahoo.com eyes a Morris County tract for 640 new housing units and retail development, planning a significant residential and commercial project in New Jersey.
Banking & Financial Services
Fidelity's annual profit wsj.com jumped after a market rally lifted revenue to a record, with the privately held financial conglomerate now overseeing $18 trillion in customer accounts and investment funds. JPMorgan ft.com cut services for Citadel Securities in a clash over roles, with the move underscoring tensions between Wall Street banks and clients as businesses converge.
Transportation & Logistics
Shipping stocks investing.com jumped 4% as Iran disruptions forced lines out of the Strait of Hormuz, with carriers benefiting from the rerouting of vessels around the conflict zone. Airlines' healthy finances ft.com will be tested by Middle East conflict, as carriers that have enjoyed strong demand and cheap fuel face threats to both from escalating tensions.
Healthcare & Pharmaceuticals
A year on a cancer vaccine trial ft.com at London's oldest hospital showed progress in this 21st-century centre of cutting-edge science that is also a medieval site of celestial auguries, of miracle cures performed and witnessed. Ex-Moelis banker bloomberg.com to plead guilty in a global insider trading case, with the former investment banker planning to return to the US from France to admit to tipping off members of a global insider-trading ring.
Consumer & Retail
Hormuz crisis ft.com is a wake-up call for complacent gas consumers, as the world has already reckoned with its dependence on oil but not yet on the latter. Bunzl investing.com topped Q4 estimates with a profit outlook that beat consensus, causing shares to rise on the strong performance.
Government & Policy
Federal court investing.com rejected delay on tariff refund cases, maintaining the schedule for resolving disputes over import duties. Colombia bloomberg.com to hit Ecuador with 50% tariffs on hundreds of items, intensifying an economically-damaging spat between the ideological foes with reciprocal tariffs planned.
Alternative Assets
SpaceX ft.com lined up a Starship launch next year as Elon Musk targets a $1.5 trillion IPO, with executives signaling a mid-2027 debut for the rocket that is central to the billionaire's Mars and Moon ambitions. Musk's x AI bloomberg.com planned to buy back $3 billion of debt early in run-up to IPO, with the artificial intelligence startup planning to pay back junk bonds ahead of its anticipated market debut.