10th March 2026 – Stock rebound as oil plummets on Trumps declaration of “quick win” in Iran

Global markets endured extreme volatility overnight as the Iran conflict entered its 10th day — oil briefly touching US$120 before crashing back below US$88 — but stocks and bonds staged a dramatic reversal after Trump signalled the war was "very complete," leaving the week's US CPI print as the next major flashpoint.6 Key Takeaways• The S&P 500 recovered from a 1.5% intraday loss to close up 0.8% after Trump told CBS the Iran war was "very complete, pretty much" and the military campaign ahead of its planned timeline.• WTI crude collapsed from above US$119 to below US$86 in a single session — one of the largest intraday swings on record — as de-escalation hopes eased supply-disruption fears.• 10-year US Treasury yields pulled back to ~4.09% after spiking to 4.21%, while Fed rate cut expectations remain firmly anchored to September at the earliest, with some options markets pricing no cuts at all in 2026.• Saudi Arabia preemptively shut multiple offshore oilfields, potentially reducing output by more than 2 million barrels per day, keeping medium-term energy supply risk elevated regardless of near-term diplomacy.• BlackRock became the first major manager to cap redemptions on a private credit perpetual vehicle, triggering an industry-wide debate about liquidity mismatches as US private credit defaults climbed to a record 5.8%.