Squawk on the Street Stocks Tumble and Oil Extends Rally as Iran Conflict Widens 3/3/26
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Mar 3, 2026 Markets slip and oil surges as the Iran conflict widens and geopolitical risk spikes. Concerns over private credit redemptions rattle alternative asset managers. Big moves in software and Asian memory stocks drive tech pain. Retailers and a surprise corporate deal create sharp winners and losers amid market volatility.
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Markets Price In Prolonged Iran Conflict
- Stock markets are pricing in a longer Iran conflict and higher oil, which is pushing rates and pressuring cuts expectations.
- Carl Quintanilla and Jim Cramer highlight Brent at $85, natural gas worst week since 2022, and the two-year Treasury near a one-month high.
BCRED Redemptions Expose Private Credit Liquidity Risk
- Blackstone's BCRED saw 7.9% redemptions in a quarter, spotlighting private credit liquidity risk across the industry.
- Blackstone honored withdrawals (avoiding gating) and used employee purchases to reduce outflows to about 7%.
Avoid Treating Private Credit Like Liquid Income ETFs
- Avoid assuming private credit funds are liquid like mutual funds; liquidity mismatches can force gates or fire sales.
- David Faber and Jim Cramer warn retail investors who bought yield vehicles may rush to redeem, stressing managers' redemption mechanics.