Finance
Trump threatens Iran with force
Published by Global Banking & Finance Review®
Posted on February 20, 2026
2 min readLast updated: February 20, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on February 20, 2026
2 min readLast updated: February 20, 2026
U.S.-Iran tensions escalate after Trump sets a short deadline, keeping traders cautious into the weekend. Brent nears recent highs and the dollar firms as investors watch PMI, U.S. PCE and GDP, while Blue Owl’s redemption curbs stoke private-credit jitters.
A look at the day ahead in European and global markets from Tom Westbrook
Traders were hunkering down into the weekend, with threats flying between the U.S. and Iran, and nerves rippling through markets from listed private equity funds.
PMI surveys, U.S. PCE and GDP data and a smattering of corporate earnings headline the calendar, but politics and the risk of war seemed to loom largest in investors' minds as the dollar headed for its largest weekly rise in four months.
U.S. President Donald Trump has set a deadline of 10 to 15 days for Iran to cut a deal over its pursuit of nuclear weapons, or face "really bad things".
It is classic Trump theatre, so asset prices have not yet moved a great deal. But the U.S. has sent aircraft carriers, warships and jets to the region and traders are poised to send oil and the dollar higher in the event of conflict.
Iran said it would respond if attacked.
Brent crude futures have topped $72 a barrel - a 6-1/2 month high - and the dollar was firm in the Asia session.
Trump, meanwhile, posted about aliens on social media, saying he would order Pentagon chief Pete Hegseth and other agencies to release government files related to aliens and unidentified flying objects.
It makes you wonder what he is trying to distract from.
Walmart's new boss sounded cautious on consumer spending on Thursday.
And private equity stocks hit the skids after Blue Owl's latest strategy to return capital from a small debt fund spooked investors.
Blue Owl said it sold $1.4 billion in assets, to return some of the proceeds to investors, and permanently removed an option for quarterly redemptions at one fund - playing into already swirling concerns about valuations and liquidity at PE funds.
Key developments that could influence markets on Friday:
- U.S. PCE and GDP data
- Global PMI surveys
- Earnings at Danone, Air Liquide and Anglo American
(Editing by Kate Mayberry)
Escalating U.S.-Iran tensions under Trump and how the geopolitical risk is shaping market sentiment across oil, currencies and equities.
Oil and the U.S. dollar typically gain on flight-to-safety flows, while equities and risk assets may weaken as volatility rises.
Global PMI surveys and U.S. releases including PCE inflation and GDP, which could sway expectations for growth and interest rates.
Blue Owl’s asset sales and curbs on quarterly redemptions have amplified concerns about liquidity and valuations in private credit.
Explore more articles in the Finance category
