Public Markets 3d Briefing
×Market Turmoil
US oil futures bloomberg.com surged to 20-month highs as investors priced in a protracted US-Iran war. The S&P 500 fell sharply wsj.com with the Dow Jones turning negative for 2026, while emerging-market currencies swung wildly bloomberg.com after a record lull. Treasury yields rose above 4.1% as inflation fears intensified from energy-driven price pressures.
Energy Crisis
Super tankers bloomberg.com began abandoning voyages into the Persian Gulf as the Strait of Hormuz crisis deepened. Saudi Arabia raised oil prices bloomberg.com to Asia by the most since August 2022, while Aramco shifted shipments bloomberg.com to the Red Sea route. Analysts estimate Saudi Arabia has roughly two weeks ft.com before needing to cut crude output as storage fills up.
Aviation Disruption
Flight cancellations bloomberg.com topped 23,000 as the Iran war compounded logistical troubles for global aviation. London Heathrow faced mounting cancellations bloomberg.com with hundreds of flights grounded and aircraft parked. Flights began resuming across the Middle East despite refuelling disruptions ft.com in Oman, while a drone attack on Azerbaijan squeezed air travel ft.com into narrow corridors.
Corporate Impact
Nike wsj.com announced a $300 million charge from cost-cutting efforts primarily tied to employee severance costs. Gap wsj.com reported profit declines as Athleta weighed on results again with same-store sales falling 10%. Marvell Technology wsj.com raised its sales outlook, expecting full-year revenue growth exceeding 30% to approach $11 billion amid AI-driven data center spending.
Currency & Banking
The dollar bloomberg.com eyed its best week since 2024 after the US strike on Iran triggered a flight to safety. Yuan financing bloomberg.com hit record levels above $200 billion as China's currency internationalization efforts bore fruit. The Bank of Canada governor warned regulators must step up surveillance wsj.com of private-credit risk from nonbank lenders to protect financial stability.
Technology & AI
Nvidia investing.com sank on reports of global AI chip export rules that would tie advanced semiconductor access to foreign investment pledges in America. Oracle finance.yahoo.com planned thousands of job cuts amid an AI cash crunch. Meanwhile, Together AI investing.com reportedly sought to raise $1 billion at a $7.5 billion valuation as institutional demand drove single-stock inflows investing.com.
Regulatory & Legal
The SEC ended its case bloomberg.com against crypto billionaire Justin Sun. US regulators clarified that banks won't face extra capital charges finance.yahoo.com on tokenized securities. President Trump faced a major legal challenge bloomberg.com from states planning to sue over his 10% tariff order after the Supreme Court stay.
Private Markets
BlackRock bloomberg.com called for more active management and private assets in 401(k)s, arguing index investing alone can't fund retirements. Voya Financial bloomberg.com reported most clients "stay the course" during volatile times. Several listed business development companies had to slash dividends ft.com and write down asset values as private credit's retail appeal diminished.
International Markets
India households bloomberg.com faced looming fuel crunches as war trapped LPG supplies in the Persian Gulf. Myanmar's military government imposed vehicle limits bloomberg.com starting Saturday to conserve fuel amid Middle East shipping disruptions. Global funds unwound hottest AI trades bloomberg.com as inflation fears mounted from the oil price shock.
Insurance & Shipping
The Lloyd's Market Association reported insurance offers bloomberg.com for vessels seeking to transit the Strait of Hormuz, with safety risks rather than coverage being the main impediment. The US allegedly lacks firepower to provide the $350 billion in coverage needed to revive Hormuz transits ft.com, according to JPMorgan analysis.