Overview
- London’s blue‑chip index fell 5.7% for the week, erasing about £150.1 billion in value, with travel and other rate‑sensitive stocks leading declines.
- Brent crude traded above $90 a barrel and briefly topped $92 after Kuwait joined Qatar in halting output and attacks were reported on regional oil assets.
- Iranian state TV reported a drone strike on a ship in the Strait of Hormuz as shipping firms stayed cautious, and the US Navy prepared to escort vessels when feasible.
- UK 10‑year gilt yields climbed into the mid‑4% range as investors pushed back expectations for near‑term rate cuts, mirroring broader bond selloffs.
- US non‑farm payrolls fell by 92,000 in February and unemployment rose to 4.4%, adding to risk‑off sentiment already fueled by the energy shock.