• The S&P 500 rose over 1.5% and Nasdaq climbed nearly 2% Monday after the White House signaled it may abandon America's role in reopening the Strait of Hormuz, with Trump telling allies on Truth Social to "build up some delayed courage" and secure the strait themselves.
• Trump wrote on social media: "You'll have to start learning how to fight for yourself, the U.S.A. won't be there to help you anymore, just like you weren't there for us," signaling a potential shift toward military disengagement despite ongoing operations.
• The mixed messaging coincides with U.S. gas prices crossing $4 per gallon Tuesday—up more than $1 from February 27—marking the first time since 2022's Ukraine crisis energy shock, while Trump's approval rating has dropped to -16.7, a record low for his second term.
Though the US is almost certainly not going to have a draft, media commentary and online anxiety have surfacedThe United States is almost certainly not going to have a military draft to fight Iran. That hasn’t stopped the chatter, and anxiety, across the country.In recent weeks, Donald Trump has ordered a number of marines and army paratroopers to head to the Middle East, gesturing toward a possible ground war to reopen the strait of Hormuz or secure nuclear weapons material. The provocative military activity has led to speculative conversation about what it would take to invade a country twice the population and three times the territory of Iraq. Continue reading...
Many countries in Europe have called the conflict illegal, with some blocking Israeli and US planes from moving weapons through their airspaceDonald Trump has launched a tirade against European countries that refused to join his war against Iran, calling out the UK and France, as transatlantic relations soured from the spiralling conflict that has wreaked havoc on the global economy.On his Truth Social website, the US president told governments worried about fuel prices to “go get your own oil” by force from the Gulf, comments that sent oil prices even higher. Continue reading...
• President Trump's mixed signals on the Iran war complicate predictions for its resolution, creating uncertainty for Republican strategists.
• The messaging discord may lead to electoral consequences for the GOP in the 2026 midterms, as voters question the party's foreign policy coherence.
• With primaries underway, internal party divisions over Trump's approach could erode his influence in battleground districts.
Defence ministry says US failed to request authorisation in time for parliament to give approval as required by international treatyItaly has denied the use of an airbase in Sicily to US military planes carrying weapons for the war in Iran after the US did not follow the required authorisation procedure.A source at the Italian defence ministry confirmed a report in Corriere della Sera that “some US bombers” had been due to land at Sigonella – one of seven US navy bases in Italy – before heading to the Middle East, but that use of the base had been denied because the US sought authorisation to land only while the aircraft were already en route to Sicily. Continue reading...
Critics say president is locking into 20th century energy systems even as his ‘bet’ on oil and gas ‘isn’t going so well’By attacking Iran and threatening to seize its oil while taking extraordinary measures to block clean energy back in the US, Donald Trump has inadvertently highlighted the dangerous volatility of the fossil fuel era, critics say.The US and Israel’s bombardment of Iran and southern Lebanon has caused a humanitarian and environmental toll, with threats of further escalation set to add to these casualties as well as add more planet-heating emissions and destroy drinking water supplies. Continue reading...
National average hit $4.02, according to AAA data, capping an extraordinary rise from $2.98 just a month agoAverage US fuel prices have crossed $4 per gallon for the first time in four years, piling pressure on drivers as Donald Trump’s war on Iran continues to boost oil markets.The nationwide average climbed to almost $4.02 on Tuesday, according to AAA data, capping an extraordinary rise from $2.98 just a month ago. It has not been this high since August 2022. Continue reading...
Price of typical UK home increased by 0.9% in March, but surging mortgage rates amid conflict in Middle East is expected to put break on activityBusiness live – latest updatesUK house prices increased at the fastest rate in almost 18 months in March, although surging mortgage rates amid the Iran war is likely to lead to a slowdown in the market, according to Nationwide.The UK’s biggest building society said the price of a typical UK home increased by 0.9% month-on-month in March, the largest increase since December 2024. Continue reading...
• Saudi Arabia, UAE, and other Gulf allies are privately urging President Trump to prosecute the U.S.-led war against Iran longer, arguing Tehran remains insufficiently weakened after a month of bombings.
• Allies shifted from initial complaints over lack of notice to viewing the conflict as a historic chance to cripple Iran's clerical rule, per U.S., Gulf, and Israeli officials.
• Secretary of State Marco Rubio affirmed alignment with Gulf partners, stating on 'Good Morning America' that Iran's 'religious zealots' must never possess nuclear weapons due to their apocalyptic vision.
• Secretary of State Marco Rubio told G7 foreign ministers on Friday that the ongoing military conflict with Iran will continue for another two to four weeks, according to sources cited by Axios.
• The timeline represents official U.S. government assessment of the expected duration of military operations in the region amid escalating tensions and ground operation preparations.
• This projection comes as the U.S. expands military presence and considers multiple operational options in the Persian Gulf region.
The US president thumbs his nose at concerns about the most serious energy crisis in global history. But Australia, like other countries, is paying a high priceGet our breaking news email, free app or daily news podcastGently, about 10 days ago, Anthony Albanese tried to send Donald Trump a message about the escalating war in Iran.In a Hobart radio interview, the prime minister said the US had achieved its original justifications and should bring hostilities in the Middle East to an end. Continue reading...
Spain’s defence minister confirms move and describes US-Israel war on Iran as ‘profoundly illegal and unjust’US-Israel war on Iran – live updatesSpain has ramped up its opposition to the US-Israel war on Iran by closing its airspace to US aircraft involved in attacks, underlining its position as Europe’s leading critic of the conflict.The move, first reported by El País newspaper and confirmed by the defence minister on Monday, comes after Madrid said the US could not use jointly operated military bases in the southern European country for operations related to the war. Continue reading...
UK PM to chair meeting in Downing Street on how government responds to economic consequences of Iran war later on MondayGood morning. Keir Starmer will today chair a meeting in Downing Street on how the government responds to the economic consequences of the Iran war, which has the potential to upend much of what the government is trying to do to improve living standards. And so he is probably not too happy about the fact that this morning he has to attend an event in the West Midlands launching Labour’s English local elections campaign.It is a relatively low-key launch. “The Westminster press pack wasn’t invited for a full Q&A,” Politico reports. Starmer will be back in London later for his Iran war meeting.We’re going to fight to earn every vote. Fight for our values. And fight for the country we are building together, a Britain built for all.Because, in the context of everything that is happening in the world. Those values – that fairness we stand for – it’s never been more important.We will protect our forces, our people, our allies in the region. But I made the decision that it is not in our national interest to commit British forces to a war, without a clear legal basis and a clear plan – and I stand by that.It’s a question of judgement. Do not forget that the Tories and Reform would have rushed us into this. With no thought of the consequences, including for the cost of living. Utterly reckless. Continue reading...
Younger conservatives say they are disappointed by Donald Trump’s decision to launch war against Iran. Key US politics stories from 29 MarchA generational divide over the Iran war has emerged between older attendees and their political heirs at this year’s Conservative Political Action Conference (CPAC) in Texas, as the group’s leaders pleaded for unity ahead of a challenging midterm election year for Republicans.Younger conservatives spoke of disappointment and even “betrayal” over Donald Trump’s launch of strikes against Iran, saying that the president’s actions run counter to his many pledges to oppose foreign entanglements. Continue reading...
Fresh Houthi attacks on Red Sea shipping would be devastating – but the Iranian proxy has reasons to be cautiousThe true significance of the long-awaited entry of Yemen’s Houthis into the Iran war depends on whether the Tehran-backed proxy group is intending to send a few missiles and drones from a distance towards Israel or will instead capitalise on its proximity to the narrow Bab al-Mandab strait to effectively close off the Red Sea to shipping, just as Iran has effectively shut the strait of Hormuz.The combined effect of both waterways being shut to commercial traffic from countries that neither the Iranians nor Houthis favour would be devastating. Napoleon Bonaparte’s remark that “the policy of a state lies in its geography” has never seemed more apt. Continue reading...
• Every Magnificent 7 stock has fallen into double-digit losses from 52-week highs, with Microsoft down roughly 32% from its October peak, marking its worst start to a year in history, as the group enters correction territory.
• Oil prices surged following Operation Epic Fury beginning February 28, reigniting inflation expectations and shifting rate outlook; markets now price in greater likelihood of rate hikes by year-end rather than cuts.
• Excitement around AI infrastructure spending has waned amid concerns over combined capital expenditures for Google, Microsoft, Amazon, and Meta expected to exceed $650 billion in 2026, up 60% from 2025.
Following the US-Israeli strikes on Iran, gas prices, grocery bills and mortgage rates have all climbed The US-Israel war against Iran has sent shockwaves through global markets, leaving many Americans grappling with a growing financial squeeze on everyday living costs.Following the US-Israeli strikes on Iran – prompting retaliatory attacks on US allies in the region and Iran’s decision to close the Strait of Hormuz, a critical maritime passage – costs have surged across the US. Gas prices, in particular, have spiked sharply, with the national average rising by roughly 30% over the past month. Grocery bills, mortgage rates and fertilizer costs have also climbed. Continue reading...
Attendees at Conservative Political Action Conference express support and concerns amid rift over Trump’s action Wherever you go, there you are, the saying goes. It was a lesson Donald Trump’s Maga faithful may have been reminded of last week when they gathered in a convention center near Dallas for a revival of the president’s political movement, only to find that there was no escape from the problems it faces.The annual Conservative Political Action Conference (CPAC) is usually a place of optimism, if not, triumph. It was on its stage last year that Elon Musk pumped a chainsaw in the air amid his abortive foray into clear cutting government bureaucracy, and where JD Vance named undocumented immigration as the “greatest threat” facing the United States and Europe. Trump is a regular, regaling the audience with lengthy monologues about his accomplishments. Continue reading...
Brent crude jumps 51% since start of March and gold suffers fifth-largest monthly fall in 50 yearsMiddle East crisis – latest updatesThe Brent crude oil price is on track for its biggest monthly gain on record in March after the Iran war caused mayhem in the markets.Brent crude, the international benchmark, has climbed by 51% since the start of March, LSEG data shows, beating the previous monthly record of 46% in September 1990 after Saddam Hussein invaded Kuwait, leading to the first Gulf war. Continue reading...
War continues to escalate with Yemen’s Iran-backed Houthis confirming a second wave of attacks on Israel since they joined the war on SaturdayRead the full reportHello and welcome to our live coverage of events in the Middle East as the war enters its second month.The war only continues to escalate as Yemen’s Iran-backed Houthis confirmed a second wave of attacks on Israel since joining the conflict on Saturday. They have vowed to continue strikes in the coming days, posing a threat not just to worsening regional security but also global trade.In a televised speech, Houthi military spokesperson, Yahya Saree, said the Iran-backed group had launched a “barrage of cruise missiles and drones” in a second attack on Israel, targeting key military sites. He vowed the Houthis would continue military operations in the coming days until Israel “ceases its attacks and aggression”.The entry of the Houthis, poses a direct threat to the Bab al-Mandab strait at the southern end of the Red Sea, a second major choke point in the supply chain of energy supplies and other trade in and out of the Middle East. With Iran’s near total closure of the strait of Hormuz, a shutdown of the Bab al-Mandab, located between Yemen and the Horn of Africa, would amplify the already grave impact of the war on the global economy, and could also reignite a Saudi-Yemen conflict.The Pentagon is preparing plans for weeks of ground operations in Iran – potentially including raids on Kharg Island and coastal sites near the strait of Hormuz – though President Donald Trump has not yet approved any deployment, the Washington Post is reporting. Any ground operation would stop short of a full-scale invasion, instead involving raids by special operations forces and conventional infantry troops, the Post said, citing unnamed officials.Exiled Iranian Crown Prince Reza Pahlavi has told one of the US’s biggest annual gatherings of conservatives that he is ready to lead a new Iranian government and would call on the country’s citizens to rise up when the “right moment arrives”, AP reports. Pahlavi is the son of the shah, a monarch deposed in 1979 when the Islamic theocracy came to power.Iran’s Revolutionary Guard threatened to target US universities in the Middle East after saying US-Israeli strikes had deliberately targeted two Iranian universities. “If the US government wants its universities in the region to be free from retaliation... it must condemn the bombing of the universities in an official statement by 12 noon on Monday, March 30, Tehran time,” said the statement published by Iranian media.Pakistan has said it would host a meeting of Middle Eastern powers on Monday in an effort to find a regional approach to ending the conflict. But the talks, which bring together the foreign ministers of Saudi Arabia, Turkey and Egypt, did not appear to include any of the warring parties, casting further doubt on persistent US claims of diplomatic progress.Israeli attacks killed three journalists in a targeted strike on their car in southern Lebanon, which the Lebanese president condemned as a “blatant war crime”. The strike killed Ali Shoeib, from Hezbollah-owned al-Manar TV, Fatima Ftouni and her brother and cameraman Mohammed Ftouni from pro-Hezbollah outlet al-Mayadeen.Tedros Adhanom Ghebreyesus, the director general of the World Health Organisation, called for an end to attacks on medical staff after nine paramedics were killed in southern Lebanon on Saturday.The Israeli military bombarded Tehran with a “wide-scale wave of strikes”, damaging residential areas, civilian infrastructure, and research and educational buildings. The IDF also said it had hit Iran’s headquarters for naval weaponry.Iran has allowed 20 oil tankers from Pakistan to pass through the strait of Hormuz. Ishaq Dar, Pakistan’s deputy prime minister, said two ships would cross per day. The country has been playing a key mediatory role in the conflict. Continue reading...
• Tech companies including Palantir, Anthropic, and Anduril are increasingly partnering with the US Department of Defense, marking a significant shift from decades of strained relations between the tech sector and military.
• Anduril announced a 10-year, US$20 billion contract with the US military, while Palantir's Maven data analytics platform and Anthropic's AI have been used extensively in operations against Iran, including defense against Shahed drones.
• The collaboration represents what investors view as a lucrative opportunity, with traditional military contractors like Lockheed Martin and Boeing now joined by rising tech giants in supplying cloud computing, AI-powered drones, and advanced defense systems.
• Younger conservatives at the Conservative Political Action Conference in Dallas express betrayal over President Trump's Iran war, clashing with his America-first promises, while older attendees defend it as a pragmatic response to threats.
• A Pew Research Center survey shows nearly 80% of Republicans approve of Trump's war handling overall, but support drops among younger Republicans and conservative-leaning independents who gained Trump support in 2024.
• Critics like Tucker Carlson and Megyn Kelly oppose the conflict; attendee Joseph Bolick, a 30-year-old veteran, withdrew support citing economic suffering and focus on foreign wars.
• One month into the U.S. war with Iran started February 28, President Trump lists five objectives for the air campaign, up from initial three by Pentagon and four by staff, as he signals potential wind-down despite some unfulfilled aims.
• Press secretary Karoline Leavitt states Operation Epic Fury is 'ahead of schedule,' with Trump claiming Thursday the Iranian regime is 'largely decimated' amid talks to reopen Strait of Hormuz.
• Israeli strikes hit Iranian heavy water and yellowcake plants Friday, confirmed by Israel; conflict strains global economy, alliances, and raises questions on planning and aftermath.
• Crude oil prices have climbed to their highest levels since 2022, driven by geopolitical tensions from the ongoing Iran war and uncertainty over shipping through the Strait of Hormuz.
• President Trump extended his self-imposed deadline to "obliterate" Iran's power plants to April 6, contingent on Iran allowing oil tankers to freely exit the Persian Gulf through the Strait of Hormuz.
• The elevated oil prices are contributing to market volatility, with Wall Street experiencing daily fluctuations as investor sentiment shifts between hopes for war resolution and renewed concerns.
• The Nasdaq 100 and Dow Jones Industrial Average have both entered correction territory, defined as a more-than-10% decline from recent peaks, marking a significant milestone in the market downturn.
• Tech stocks have been particularly hard hit, with Amazon dropping 3.1% and Meta Platforms falling 3.5%, as the sector faces pressure from both high valuation concerns and geopolitical tensions related to the Iran war.
• The S&P 500 has suffered five consecutive weeks of losses—its longest losing streak in nearly four years—and is now 8.7% below its record set in early 2026.
• Younger conservatives at CPAC in Grapevine, Texas, expressed betrayal over Trump's Iran strikes, clashing with his America-first stance, while older attendees defend as pragmatic.
• Some young voters report slipping support amid troop deployment fears; media figures divided ahead of midterms.
• Split underscores challenges for Republican unity on foreign policy.
• The U.S. economy faces 'real risk' of recession following four weeks of war in Iran, with major indexes like S&P 500, Dow, and Nasdaq down sharply and energy stocks up 25%.
• Inflation pressures have driven 30-year fixed mortgage rates to 6.5%, up 0.5 points, while businesses cannot expect Federal Reserve rate cuts soon.
• Stock portfolios and retirement accounts have suffered ugly losses, compounded by higher gas prices and persistent high interest rates.
Concern that supply chain disruption could hit health essentials – and prices – from painkillers to cancer treatmentBritain is “a few weeks away” from medicine shortages ranging from painkillers to cancer treatment if the Iran war continues, according to experts, while drug prices could also rise.The conflict has disrupted the supply of a myriad of crucial raw materials, including oil, gas, crop fertiliser and helium – and health essentials could be next. Continue reading...
Fears grow that Tehran may start activating sleeper cells across Middle East as part of war with US and IsraelMiddle East crisis – live updatesGulf countries have raised concerns over the prospect of attacks by Iran-backed militias and proxy armed groups in the region, which they fear could destabilise their regimes and escalate the war in the Middle East.In a joint statement this week, Qatar, Kuwait, the United Arab Emirates, Bahrain, Saudi Arabia and Jordan condemned Iranian attacks on their soil, both as strikes carried out directly from Iran and “through their proxies and armed factions they support in the region”. Continue reading...
• The Pentagon is considering deploying up to 10,000 additional troops to the Middle East beyond the 1,500 already mobilized from the 82nd Airborne Division, according to a senior U.S. defense official.
• U.S. Central Command reported striking more than 8,000 targets, including over 130 Iranian naval vessels, while Israel confirmed dropping more than 15,000 munitions as part of coordinated Operation Epic Fury and Operation Roaring Lion campaigns launched on February 28.
• U.S. Secretary of State Marco Rubio stated on March 27 that Washington expects the operation against Iran to conclude "within weeks, not months" and that the U.S. can meet all objectives without using ground troops.
Image: Fortune
