Iran War Fuels Inflation Fears & Sparks Deep Selloff Across Markets | The Opening Trade 3/3/2026

Stocks fell and bonds extended losses as the war in Iran entered its fourth day with no sign of de-escalation, heightening fears of a lengthy disruption to energy markets and a surge in inflation. European and Asian equity benchmarks headed for their worst two-day drop since April while concern that energy prices could remain elevated pushed global yields higher for a second day.

The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie.

Chapters:
00:00:00 – The Opening Trade
00:01:30 – Hardest Hits Are Yet to Come: Marco Rubio
00:05:43 – Iran War: Trump Vows to do ‘Whatever it Takes’ in Iran
00:09:04 – BlackStone, Private Credit Concerns
00:10:17 – UK Sprint Statement
00:11:00 – US Mulls Capping Nvidia H200 Chinese Sales
00:11:31 – OpenAI’s Sam Altman on Pentagon Deal
00:15:08 – Global Bonds Sink
00:21:11 – China Calls on All Sides to Safeguard Ships in Strait of Hormuz
00:30:32 – Oil Price
00:34:12 – Jamie Dimon: Prolonged Iran War Could Upend Markets
00:39:04 – European Gas Futures Surge
00:47:20 – Stocks to Watch: Defense, Energy, Shipping
01:01:01 – Germany’s Merz to Meet Trump Today
01:03:38 – Spanish Foreign Minister José Manuel Albares on Iran War
01:14:41 – Russia, Ukraine Plan for US-Led Peace Talks
01:30:12 – S&P Futures, Nasdaq Futures Extend Drop
01:32:34 – UK Spring Statement Uncertainty
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