FEAR & GREED | Business News Afternoon Report | ASX slips, oil rises
6 snips
Mar 26, 2026 Markets slip as ASX movers and sector shifts take the spotlight. Oil prices climb and energy and defence names gain while banks and tech waver. New visa restrictions affect thousands of Iranian temporary holders. RBA warns about supply shock risks to inflation and stability. Labour unrest at a national broadcaster heats up. Reports surface on a massive SpaceX IPO size and timing.
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Market Moves Driven By Middle East Tension
- The ASX held most gains but slipped 0.1% as investors weighed Middle East peace hopes against mixed signals and rising oil.
- Energy and defence stocks rose (Brent > US$104; Santos +2.5%, Karoon +3.7%, Woodside +2.3%) while tech and gold miners fell, reflecting conflict-driven sector rotation.
Australia Tightens Iranian Visa Rules
- Australia barred over 7,000 Iranian temporary visa holders from entering to limit people who might not return amid the war.
- Home Affairs Minister Tony Burke kept exceptions for those already in Australia and close family of citizens.
Watch Inflation Expectations And Asset Repricing
- Monitor inflation expectations closely because rising fuel-driven inflation can become sticky and force RBA responses.
- Watch household wealth and financing costs as asset repricing from prolonged conflicts hits superannuation and borrowing.