#CryptoMarketsDipSlightly 1. Oil Markets: The "Strait of Hormuz" Factor

Crude oil has indeed surged. Brent crude has jumped roughly 17% since the start of the hostilities, trading above $85 a barrel. The primary driver isn't just the strikes themselves, but the effective halt of traffic through the Strait of Hormuz, which handles about 20% of the world's oil and LNG.
2. Stock Market: Regional Divergence
While global equities are volatile, the impact is uneven:
Asia: Markets in energy-importing nations have been hit hardest. For example, South Korea’s KOSPI recently saw one of its worst single-session drops in history.
Wall Street: The S&P 500 has shown surprising resilience, dropping less than 1% in the first week of March, though defense and energy sectors are outperforming.
3. Safe-Haven Assets: Gold's Historic Run
Your note on gold is spot on. Bullion prices have rallied sharply, with some analysts at J.P. Morgan forecasting gold to push toward $5,000/oz by the end of 2026 if the conflict remains protracted. The US Dollar has also caught a strong safe-haven bid, even as it creates a "double-edged sword" for emerging markets.
4. Broader Economic Risks
The "unconditional surrender" rhetoric currently coming from the White House suggests this may not be a short-lived spike. Investors are now pricing in higher-for-longer inflation, which has led many to scale back expectations for Federal Reserve rate cuts in 2026.