Public Markets 8-Hour Briefing
×Asian Market Rout
South Korean stocks plunged 12% in their worst one-day drop as the Iran conflict rocked Asian markets. The broader Asian equities selloff deepened as the region's oil-importing economies faced heightened energy shock risks. Thai stocks tumbled the most in six years, while Dubai equities slumped the most since 2022 after markets reopened following a closure.
Currency & Commodities
The dollar fell the most in nearly a month following a report of secret Iranian outreach for talks. Bitcoin climbed above $71,000 in a broad crypto advance. Middle East oil prices soared after a key trading platform excluded Gulf loadings, and European gas remained elevated on severe supply disruptions. The Indian rupee hit a record low as oil prices spiked.
European Bonds & Stocks
European bonds halted their selloff as traders weighed energy price swings against potential peace talks. Euro-zone unemployment unexpectedly fell to a record low, a conflicting signal for growth. European stocks added to gains on hopes the Middle East conflict would end, even as Barclays warned they could fall 10% if oil hits $100.
Corporate Moves & Earnings
Barclays upgraded Nexans, saying the selloff over GSI concerns was overdone, sending the stock up 6%. Novo Nordisk rose 3% after the FDA sent warning letters to 30 GLP-1 telehealth firms. Vistry Group shares tumbled 17% on a sluggish profit outlook and CEO retirement, adding to a prior downgrade. Adidas shares slid as its 2026 operating profit guidance fell short, though it extended CEO Gulden's contract through 2030. Bayer forecast flat 2026 profits amid Roundup settlement efforts, while Brenntag shares fell after a 34% profit drop and dividend cut.
Geopolitical Supply Shocks
India's MRPL halted fuel exports as Iran war disruptions choked crude shipments. Indian urea producers are trimming output due to suspended Qatari LNG flows. Pakistan is cutting gas for some industrial buyers, and Myanmar will limit private vehicle use to conserve fuel. Singapore faces higher power bills if Qatar's LNG shutdown proves lengthy.