Bloomberg Daybreak: Europe Edition War Triggers Global Selloff, Trump’s 48h Deadline, Watching Iran From Afar
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Mar 23, 2026 Tala Atmadi, a reporter on the Iranian diaspora, reflects on Nowruz rituals muted by conflict. Mark Cudmore, markets editor, breaks down the selloff, bond yields and gold’s odd moves. Patrick Sykes, Middle East breaking news editor, reports on Iran–US skirmishes, regional strikes and Strait of Hormuz risks. Short, tense updates on markets, culture and escalating regional threats.
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Markets Plunge As US Iran Rhetoric Escalates
- Global markets sold off sharply as US and Iran traded threats, hitting equities, bonds and gold across Asia, Europe and the US.
- Asian equities fell for a third session with Japan down over 3% and South Korea over 6%, while 10-year gilts jumped to 5% and gold plunged nearly 5%.
Trump 48 Hour Ultimatum Raises Stakes In Strait Of Hormuz
- President Trump gave Iran a 48-hour ultimatum to reopen the Strait of Hormuz or face strikes on power plants, raising risk of wider escalation.
- Iran warned it would close the Strait and target power, ICT and energy infrastructure and firms with US shareholders if struck.
IEA Says Energy Damage Equals Two Major Oil Shocks
- The International Energy Agency says over 40 Middle East energy facilities have been severely damaged, cutting supply equivalent to more than two major oil shocks.
- Brent traded above $112 a barrel and Goldman raised its 2026 Brent forecast to $85, signalling sustained higher energy prices.
