Finance
Morning Bid: 'Bump on the Road' or Gaping Chasm?
Published by Global Banking & Finance Review®
Posted on March 5, 2026
3 min readLast updated: April 2, 2026
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Published by Global Banking & Finance Review®
Posted on March 5, 2026
3 min readLast updated: April 2, 2026
Add as preferred source on GoogleMarkets face uncertainty as Middle East war jolts energy and sentiment, while China sets a lower growth target amid policy shifts at its National People’s Congress.
A look at the day ahead in European and global markets from Rocky Swift
Is the crisis in the Middle East and its fallout on global markets just a "bump on the road" or does it portend a long period of uncertainty for global trade?
The rosier take was voiced by U.S. Energy Secretary Chris Wright, who told Fox News that the conflict with Iran, which has killed hundreds and paralysed oil shipments in the region, would be a "small price" to pay to achieve America's military goals.
Less optimistic was Kristalina Georgieva of the International Monetary Fund, who warned of a prolonged period of flux as the war, kicked off by U.S. and Israeli air strikes that killed Iran's supreme leader, tests global economies.
There were no fresh signals of a diplomatic off-ramp to the hostilities or improved security for ships trying their luck across the Strait of Hormuz. Instead the Republican-led Senate voted to block a resolution aiming to stop the air war on Iran, which launched a fresh wave of missiles at Israel.
Even so, markets seemed split. Asian shares surged, led by a recovery in South Korea's KOSPI. Oil prices continued their climb, while gold, the classic safe-haven asset, also rose.
China's closely watched National People's Congress got underway with a host of announcements and plans. The nation's shares reacted positively to a slightly slower growth target that signalled a shift towards rebalancing the economy and boosting consumption.
Stock futures for Europe and the U.S. started off with gains before reversing course and pointing to declines when those markets open.
Key developments that could influence markets on Thursday:
(Reporting by Rocky Swift; Editing by Sonali Paul)
The crisis is causing uncertainty, affecting oil prices, global trade, and investor sentiment with rising volatility.
Both oil and gold prices are climbing due to heightened risks and investor move towards safe-haven assets.
Asian shares, particularly South Korea's KOSPI, recovered, while European stock futures initially gained but later pointed to declines.
Important data include euro zone retail sales, US jobless claims, productivity data, and several central bank speeches.
There are no fresh signals of diplomatic progress or improved security for vital trade routes like the Strait of Hormuz.
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