Nine To Noon Money: What's the Iran conflict doing on markets?
Mar 17, 2026
Susan Edmunds, RNZ money correspondent who explains markets and KiwiSaver, breaks down why stock markets stayed calmer than early warnings suggested. She highlights which sectors may gain from the conflict, investors’ KiwiSaver behaviour, and how fuel-driven inflation could shape rates. Short, clear takes on market winners, ethics in defence investing, and timing risks.
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Markets Reacted More Measured Than Predicted
- Share markets have responded more calmly than feared after the Middle East conflict began.
- Susan Edmunds notes measured falls followed by recoveries and cites her own KiwiSaver growth fund down ~3% over March but up 9.6% over a year.
Economic Pain Comes Through With Persistent Oil Rises
- Real economic effects lag initial market moves and emerge if oil prices and input costs hit company earnings.
- Susan warns longer conflict and sustained oil rises are when market weakness will translate into the real economy.
Avoid Kneejerk KiwiSaver Moves During Volatility
- Avoid panic switching of KiwiSaver funds; few people shifted compared with 2020 and sticking with your chosen fund can be sensible.
- Susan reports managers saw some enquiries but far fewer redemptions than during the March 2020 crash.