Published by Global Banking & Finance Review®
Posted on March 10, 2026
3 min readLast updated: April 1, 2026
Add as preferred source on GoogleMarkets turned volatile as President Trump’s “very complete” comment on the Iran war and Iran’s retaliatory threats triggered sharp swings in oil and equities, while Asian and European bourses broadly held onto a relief rally.
A look at the day ahead in European and global markets from Gregor Stuart Hunter:
Just when you thought it was safe to go back in the water, the White House has ominously declared that everything will be back to normal soon.
While global stocks have largely sustained the relief rally that followed Monday's wild swings, fear is again resurfacing as Iran vowed to step up its missile strikes.
President Donald Trump's assurance that the war with Iran was "very complete" and could be "over soon" initially injected optimism into markets, even as Iranian hardliners rallied behind new Supreme Leader Mojtaba Khamenei and said their blockade of oil would continue.
Within hours of Trump's statements, Iran's military dashed markets' hopes. "We are the ones who will determine the end of the war," Iran's Revolutionary Guards said.
Such comments brought the exchange back to a familiar tempo with Trump then threatening to hit Iran "TWENTY TIMES HARDER than they have been hit thus far."
As traders parsed the volleys of threats, Brent crude futures fell as much as 11% to lows of $88.05 per barrel, before paring their decline to 4.8%.
Stocks for their part have mostly held their ground amid signs of increased risk-taking by retail investors. Japan's Nikkei 225 jumped 2.1%, while South Korea's Kospi surged as much as 6.6%. MSCI's broadest index of Asia-Pacific shares outside Japan was up 2.2%, trimming losses sustained since the start of the conflict.
And the rally looked set to continue in early Europe trade with pan-region futures up 1.0%, German DAX futures gaining 1.0%, and FTSE futures edging up 0.4%.
U.S. equity futures, however, were more subdued, with S&P 500 e-mini futures EScv1 down 0.5% to pare Monday's rebound.
Elsewhere on Tuesday, data showed China's export growth quickened in January-February, keeping the world's second-largest economy on track to top its record $1.2 trillion trade surplus over the course of 2026.
And almost five years to the day since swathes of the global economy were shut off to fight the Covid-19 pandemic, Vietnam's trade ministry said it was again calling on local businesses to encourage their employees to work from home - this time as part of efforts to save on fuel amid supply disruptions and price surges triggered by the Iran war.
Oracle, Volkswagen, Persimmon, Kohl's
Germany: Trade balance for January
Germany: 2-year government debt
(Reporting by Gregor Stuart Hunter; Editing by Sam Holmes)
Trump's assurance that the war with Iran was 'very complete' initially boosted market optimism, but renewed threats led to renewed volatility in oil and stock prices.
Brent crude futures dropped as much as 11% before paring losses to 4.8%, reflecting fear of prolonged conflict and disrupted oil supply.
Japanese and Korean stock indices surged, MSCI's Asia-Pacific index rose, and European futures pointed higher despite ongoing risk.
China's export growth remained strong, but Vietnam urged remote work to conserve fuel due to supply surges linked to the Iran war.
Markets are watching German trade balance data and debt auctions, as well as earnings from companies like Oracle and Volkswagen.
Explore more articles in the Finance category
