PMC Monthly Recap March 2026
Financial markets were driven by one force in March: War in the Middle East. Headlines from the conflict, and energy price swings, dominated last month. Read more.
Financial markets were driven by one force in March: War in the Middle East.
Headlines from the conflict, and energy price swings, dominated last month. Global equity markets swooned as fighting escalated and spread from the Caspian Sea to the Indian Ocean. International markets especially suffered. Energy prices jumped in March, which created fears of a new inflationary wave. In turn, this worry led to a bond sell-off before a partial rebound to end March. The new war only created more uncertainty over economic growth and price
stability. The Federal Reserve’s job just got more difficult. What we’re watching: How will this new Middle Eastern conflagration unfold? Will oil and natural gas prices stay elevated for a long time?