Track the evolution of major financial and economic events
On March 31, Korean Air implemented emergency measures to cope with soaring fuel costs. This price surge is linked to the economic impact of the Iran conflict.
Tensions between the US and Iran escalated as a ceasefire proposal faced diplomatic deadlock. While the US claimed to have sent a ceasefire plan, Iran continued its attacks on Israel and Gulf Arab countries. Following a series of threats and contradictory statements from President Trump, a 45-day ceasefire was announced but remained shaky and at risk, especially with rising events in Lebanon. On April 21, Trump announced the extension of the ceasefire while maintaining the blockade on Iran's ports.
On March 23, President Donald Trump announced a five-day pause on planned strikes against Iranian energy sites following constructive talks with Iran. This announcement led to a rally in Airbnb stock. However, U.S.-Iran tensions escalated, prompting Trump to issue warnings and oil prices to surge. On April 14, a ceasefire framework was agreed upon, but high-level negotiations later collapsed.
On March 21, Iranian drones struck U.S. data centers located in the Gulf region. Private companies are now direct targets in geopolitical conflicts, necessitating a shift in security strategies. On March 29, President Donald Trump deployed thousands of U.S. troops to the Middle East for an anticipated ground assault. The U.S. military efforts aim to reopen the Strait of Hormuz.
On March 19, Netanyahu stated that Iran is being decimated, while Trump confirmed he would not send U.S. troops to the Middle East. On March 24, Iran launched fresh missile strikes against Israel, escalating tensions. On March 27, Israel struck Iran's nuclear facilities, causing oil prices to surge past $100 a barrel. Subsequently, on April 6, Israel experienced one of the deadliest days of the war, with four Israelis killed due to an Iranian missile strike.
On March 17, Trump stated that China, Japan, and Korea should thank the US for military strikes aimed at protecting vessels. The President mentioned that numerous nations have vowed to help protect commercial vessels. However, the UK and Germany have refused to be drawn into a wider conflict. On March 30, Trump said the US could take the oil in Iran and indicated he is considering seizing strategic Kharg Island even as negotiations continue.
In early 2026, the war in Iran was identified as the latest 'worst-case scenario' facing the travel industry. Consumer confidence in Europe has plummeted due to the conflict, while airline stocks such as Delta and American have risen. On April 12, a two-week ceasefire was agreed upon between the US and Iran, but the situation remains tense with ongoing fighting between Israel and Hezbollah.
On March 13, the Pentagon confirmed that all six crew members died in a KC-135 tanker crash over Western Iraq during 'Operation Epic Fury' directed against Iran. While pro-Iran Iraqi militants claimed they shot down the plane, the Pentagon denied it was due to hostile fire. On March 30, Spain closed its airspace to US planes involved in operations against Iran and announced that US military bases in Rota and Morón would not be used for these operations. On April 3, a US fighter jet was downed in Iran, and a search for the crew is ongoing.
On March 13, the Strait of Hormuz, the world's most critical chokepoint for oil shipments, was effectively closed due to the war between the U.S./Israel and Iran. However, Pete Hegseth downplayed concerns regarding the closure, stating 'Don't need to worry about it'.
The S&P 500 has fallen by 3% due to escalating tensions between the US and Iran, leading to market volatility. Investors are seeking protection tools amid rising concerns about the conflict's impact on growth and inflation. European and US markets also declined following Iranian strikes on Qatari gas facilities, while President Trump hinted at the possibility of ending the war, providing some hope to investors.
Iran threatens to deploy naval mines in the Strait of Hormuz as part of its asymmetric strategy following the degradation of its conventional naval capabilities. These threats have led to a surge in oil and natural gas prices, with military escalations occurring through U.S. airstrikes on Iranian sites. There are also international efforts for a ceasefire, while Iran continues to use crypto payment systems to fund its operations.
On March 12, Iran's new leader maintained the closure of the Strait of Hormuz, raising supply concerns. This led to a further spike in crude oil prices due to escalating geopolitical tensions. Additionally, the downbeat risk appetite pressured the DAX index while supporting the US dollar.
On March 11, President Trump stated that he is not worried about Iran carrying out terror attacks within the U.S. in retaliation for the ongoing war. He also threatened that the U.S. military could destroy certain things in Iran so quickly that the country would never be able to be rebuilt. These remarks come amid an ongoing military conflict involving the U.S. and Israel against Iran.
