Public Markets 8-Hour Briefing
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Market Moves
The S&P 500 fell 1.2% in its worst week since June, while Asian defense stocks surged as U.S.-Iran tensions escalate. Oil prices rose on Middle East fears, with European infrastructure grappling with supply chain risks. Iran’s refusal to negotiate with the U.S. deepened geopolitical uncertainty.
Geopolitical Tensions
U.S.-Israel strikes on Iran’s proxies have triggered a cascade of economic fallout, including fuel price jumps and travel disruptions across the Middle East. China’s opposition to Western actions on Iran highlights shifting global alliances. Emerging markets slumped as risk appetite waned, with Treasuries edging lower amid mixed signals.
Sector-Specific Impacts
Barrenjoey’s merger into a mini-Macquarie