Global markets displayed a mixed response to the ongoing tensions involving Iran, with traders seemingly focusing on potential de-escalation. Brent crude oil prices eased to around $98 per barrel, while U.S. crude hovered near $88. Asian equities closed higher, with South Korea’s KOSPI and Japan’s Nikkei showing gains of approximately 1.5% and 3%, respectively. European shares also experienced a rise of over 1% early on. Gold also saw gains, benefiting from a weaker dollar and reduced concerns about rising interest rates.
Despite the positive market movements, business surveys from March revealed a stalling of private sector growth in the eurozone and increasing inflation fears in the United States, highlighting the war’s impact on economic confidence. Uncertainty prevails regarding negotiations, with an Iranian Armed Forces spokesperson claiming the U.S. is negotiating with itself. Private credit markets remain uneasy as Ares joined Apollo and other asset managers in halting redemptions due to investor exits.
In technology news, South Korean chipmaker SK Hynix is reportedly considering a U.S. listing in the latter half of 2026. SK Hynix specialises in the production of memory chips, crucial components in electronic devices. Additionally, reports indicate that Elon Musk’s SpaceX may file for an initial public offering (IPO) in the near future. SpaceX designs, manufactures, and launches advanced rockets and spacecraft.
A Reuters/Ipsos poll indicated that only 29% of the country approves of President Trump’s economic stewardship, reflecting the lowest rating during either of his terms and falling below any economic approval rating received by his predecessor, Democrat Joe Biden.
