Global Morning Briefing: March 31, 2026

1. U.S. Market Recap

A quick look at how the markets performed and what drove the movement.

• Oil Spike Hits Stocks: For the first time since the conflict began, U.S. Crude (WTI) surged past $100 per barrel, dragging down the stock market. The Street reported on the March 30 close: "U.S. Crude Oil settles above $100/bbl for first time since Iran conflict began; equities fall."

• S&P 500 Under Pressure: CNBC reported on March 29 that the S&P 500 struggled as tech stocks plummeted and oil prices continued to climb.

• Powell’s Comments: According to Trading Economics, Fed Chair Powell noted that President Trump’s tariffs have caused one-time price hikes. He added that the central bank’s ability to control supply-side shocks—like the current oil price spike—is limited. Following his remarks, bond yields saw a continued decline.

2. Key Macroeconomic Indicators

The data points influencing the current market landscape.

3. Top Global Issues

A roundup of three major stories from around the world.

• Iran Warns Against U.S. Ground Invasion: An Iranian official accused the U.S. of planning a ground invasion as the next phase of the war, warning that they would respond with force. Meanwhile, Pakistan is working to mediate the situation diplomatically.

• Trump Claims Iran Has Accepted "Most" Demands: CNN reports that on the 30th day of the conflict, President Trump claimed Iran has agreed to "most" of the 15 U.S. demands for ending the war. This comes despite Iran showing skepticism toward the U.S. position just last week.

• Houthis Target Southern Israel: According to the Institute for the Study of War (ISW), Houthi forces launched ballistic missiles, drones, and cruise missiles at southern Israel on March 27 and 28.