Good morning. The Middle East conflict continues reshaping global markets and geopolitics, with US stocks posting their biggest slide since the crisis began as Trump extends his pause on attacking Iran's energy infrastructure until April 6th following Wall Street's bruising day. Israeli military intelligence now doubts the aerial campaign will topple Iran's regime, while Iran's hardline new leadership - shaped by recent US-Israeli assassinations - appears more hawkish than ever, keeping their top-tier missile arsenal in reserve and maintaining their grip on power despite the sustained pressure.
The economic ripple effects are hitting close to home, with the UK forecast to see the biggest growth hit from the Iran war among major economies according to OECD downgrades. Christine Lagarde struck a notably sober tone about the energy shock's implications for Europe. Meanwhile, Netflix has confirmed another round of price hikes as streaming costs continue climbing across the board, and there's promising movement in tech with Google Translate expanding real-time headphone translations to iOS users in more countries.