Public Markets 8-Hour Briefing
×Market Turmoil
European shares headed for their steepest weekly decline since April as the war in Iran showed no sign of nearing a resolution. US stocks have flipped the script for international investors since war erupted in the Mideast, handily outpacing the rest of the world after trailing their global peers badly last month. The S&P 500 ended lower marking its first two-week loss since June, while the Dow jumped 4.5% on JPMorgan upgrade amid oil surge.
Energy & Commodities
US gasoline pump prices advanced to the highest level at any time under President Donald Trump, with the conflict in the Middle East disrupting energy supplies. Maritime traffic in the Strait of Hormuz has ground to a near-complete halt, with no oil shipments going through in the past 24 hours, as the Middle East war disrupts the vital waterway. World food prices rose for the first time in five months, U.N. FAO says, remaining 1% below levels a year earlier and close to 22% below the March 2022 peak after Russia's invasion of Ukraine.
Corporate Moves
Embraer topped estimates, setting ambitious 2026 guidance with fourth-quarter revenue of 14.3 billion reais ($2.7 and adjusted earnings before interest, taxes, depreciation and amortization of 1.6 billion reais. Vincorion plans Frankfurt IPO as sales rise, looking to tap investor appetite for defense stocks in an increasingly unstable world. Axel Springer bought Telegraph in £575mn deal, gatecrashing a proposed acquisition by the owner of the Daily Mail.
Regional Markets
Chinese markets weathered Iran war turmoil better than Asian peers, holding up during the global market selloff. Hong Kong CBD's largest landlord sees commercial rebound, with Michael Smith telling BTV the commercial property market in Hong Kong is seeing a 'great rebound.' Vietnam's richest man named wife chair of taxi firm GSM, with Pham Nhat Vuong handing the reins of his EV taxi company Green & Smart Mobility JSC to his wife, Pham Thu Huong.
Shipping & Trade
Maersk and Hapag-Lloyd suspended key Middle East shipping routes as the fallout from the war continues to disrupt trade flows. Panama surprised by higher canal traffic amid Trump's trade wars, reporting an unexpected jump in revenue that confounds its own forecasts. Philippine central bank governor warns that oil rising toward $100 per barrel could push Philippine inflation beyond the BSP's 2%-4% target range.
Policy & Politics
Swiss still aim for US trade accord after Supreme Court decision, wanting to continue talks with the US on a legally binding trade agreement even after the court scrapped the legal base for most of Donald Trump's sweeping tariffs. Indonesia says Pakistan, UAE back Prabowo bid for Iran mediation, with Indonesian President Prabowo Subianto's offer to mediate in the Iran conflict having backing from countries including Pakistan and the United Arab Emirates. Poland may abstain from interest-rate cuts for as long as the armed conflict in Iran lasts, according to policymakers Henryk Wnorowski and Marcin Zarzecki.
Tech & Innovation
Microsoft energy chief says Middle East war strengthens case for renewables, with oil and gas price shocks triggered by conflict reigniting discussion about building defenses to volatile fuel costs. AI sell-off is 'unfairly penalizing' Industrial Software, analyst says, as market sentiment shifts. Big Tech stocks were expensive, but that's changing as AI euphoria gives way to skepticism.
Financial Markets
Credit investors are swiftly unwinding long positions worth tens of billions of dollars and jumping into hedging trades. Goldman Sachs says stocks may suffer correction, but 'nothing systemic,' with Peter Oppenheimer discussing the impact of war in the Middle East on inflation, the economy and equity markets. Dollar strength offsets war premium as Treasuries fall, with the dollar among the few major assets to have rallied this week while traditional safe havens offered no refuge to investors.