Public Markets 8-Hour Briefing
×Market Rout
South Korean stocks plunged 12% in their worst crash since 2008 as the Iran conflict roiled Asian markets. UAE stocks tumbled when trading resumed after a two-day closure, while Thailand's market fell the most in six years. The Indian rupee hit a record low, forcing the RBI to create more intervention space.
Deals & IPOs
Kenya's pipeline IPO exceeded its target by 5.7%, marking the nation's first major public sale in over a decade. Kraken became the first crypto firm to gain access to the Fed’s core payments system, a major regulatory milestone. The Indian IPO market faces a prolonged slowdown as the Middle East rout derails listing plans.
Commodities & Inflation
Middle East oil prices soared after Platts excluded Gulf loadings from its benchmark, with bids reaching extreme levels. Aluminum prices are being tested for durability against Gulf disruptions. European gas prices remain elevated on severe Middle East supply shocks, fueling inflation fears that pushed 10-year Treasury yields above 4%.
Company Alerts
Continental warned its 2026 profit forecast could be derailed by the war, joining a wave of corporate alerts. Vistry Group shares tumbled 17% on a sluggish profit outlook and CEO retirement, days after a similar warning. Adidas saw its stock tumble as an operating profit guidance miss overshadowed results, even as it extended CEO Gulden's contract through 2030.
Tech & Crypto
Nvidia changed its stock-based compensation reporting, removing a potential earnings crutch and pressuring rivals. Global funds are unwinding hot AI trades as inflation worries mount. Kraken's Fed access marks a key step toward crypto integration into mainstream finance.
Policy & Currency
The Swiss National Bank repeated its threat to intervene as the franc's strength persists amid global turmoil. Czech inflation slowed unexpectedly, but the energy shock may limit rate-cut room. Ghana's central bank is poised for a fifth straight cut despite war-driven inflation risks elsewhere.