U.S. equity markets faced intense selling pressure during afternoon trading on Thursday, March 12th, 2026, as escalating geopolitical tensions in the Middle East sent shockwaves through global financial centers. The primary catalyst for the downturn was a sharp spike in crude oil prices, which briefly eclipsed the $100-per-barrel mark following reports of intensified conflict in the Strait of Hormuz. This surge has reignited fears of "stagflation"—a period characterized by stagnant economic growth and high ...

Karen Petrou, a banking analyst who died at the age of 72, often said that the stereotypes thrust on blind people were much worse than actually being blind https://t.co/Jdi5nCb5dE ...

Core Insights - Bitcoin's price fluctuated around $70,000 amidst rising oil prices and geopolitical tensions related to the Iran conflict [1] - The cryptocurrency experienced a 2% drop following attacks on oil tankers but rebounded to over $73,000 as investors sought safe assets [1] - Analysts suggest profit-taking at the $70,000 level due to ongoing macroeconomic uncertainties [2] Market Reactions - The market has been volatile due to mixed signals regarding the Middle East conflict, with U.S. President Trump hinting at a potential end to the war, while Iran continues its military actions [4] - Increased energy prices have driven traders towards the dollar, with Bitcoin being viewed as a liquid hedge [5] Technical Indicators - Bitcoin's negative funding rates, which recently hit their lowest in nearly five weeks, indicate potential upside momentum [6] - Historical data shows that negative average monthly funding rates have preceded strong returns, suggesting a constructive near-term setup for Bitcoin [7] - Accumulation by large holders, or "whales," has been noted in the low $60,000 range, further supporting the potential for a relief rally [7]

After its banking partnership with Wells Fargo ended, Bilt began issuing new credit cards. But infuriated customers say their rent and mortgage payments aren’t going through.Read the full story: https://t.co/6SxWEOjsZp📸: Ken Sweet via Associated Press https://t.co/kA4rPd7G41 ...

Market Overview - US stocks opened lower, with the Dow Jones dropping almost 600 points or 1.2%, the S&P 500 falling 1.1%, and the Nasdaq down 1.4% [1] - Consumer and travel stocks were the biggest fallers, with Dollar General down over 8% and cruise operators Carnival and Royal Caribbean also experiencing significant declines [1] Oil Prices and Economic Impact - Oil prices surged, with Brent crude above $99 per barrel and US WTI above $94, driven by geopolitical tensions following Iran's Supreme Leader Khameni Jnr's statement regarding the Strait of Hormuz [2] - Predictions indicate an 80% probability that NYMEX crude oil futures will hit $100 by March 31, with a 57% chance of reaching $110 and a 44% chance of $120, reflecting increased market concerns [3] Financial Sector Response - Major banks, including Morgan Stanley, Goldman Sachs, and Citigroup, saw declines in their stock prices, while airlines like Southwest and United Airlines also faced pressure due to rising oil prices [2] - In response to security threats, banks are taking measures to protect staff in the Gulf, with Citi advising employees to leave buildings in Dubai's financial district and JPMorgan moving Middle East staff to remote work [4] Shipping and Geopolitical Tensions - Analysts noted that further attacks on shipping in the Gulf region, including strikes on two tankers and a container vessel, have contributed to the rise in oil prices [7] - Oman has evacuated ships from its main export terminal amid these escalating tensions [7]

Market Performance - U.S. stocks traded lower, with the Dow Jones falling more than 500 points, down 1.18% to 46,860.18, NASDAQ down 0.92% to 22,506.55, and S&P 500 down 0.86% to 6,717.27 [1] - European shares also declined, with the eurozone's STOXX 600 falling 0.7%, Spain's IBEX 35 Index down 1.6%, London's FTSE 100 down 0.7%, Germany's DAX down 0.7%, and France's CAC 40 slipping 0.8% [4] - Asian markets closed lower, with Japan's Nikkei 225 down 1.04%, Hong Kong's Hang Seng index down 0.70%, China's Shanghai Composite down 0.10%, and India's BSE Sensex down 1.08% [5] Sector Performance - Energy shares rose by 0.4% on Thursday, while financial stocks dipped by 1.4% [1] Economic Indicators - U.S. initial jobless claims declined by 1,000 to 213,000, compared to market estimates of 215,000 [2] Commodity Prices - Oil traded up 8.1% to $94.28, while gold traded down 0.1% at $5,178.20; silver traded up 1.8% to $87.080, and copper fell 0.3% to $5.8760 [3]

Core Viewpoint - Assicurazioni Generali is interested in replacing AXA as a partner for Monte dei Paschi di Siena and expanding its commercial deals with UniCredit, as stated by CEO Philippe Donnet [1]. Company Developments - Generali's CEO expressed willingness to help MPS manage customer savings, emphasizing the importance of bringing Italian savings back to Italy [1]. - The partnership between MPS and AXA is set to expire in 2027, with indications that Generali could serve as a viable alternative [1]. - Generali has abandoned its deal with Natixis for asset management due to opposition from the Italian government and key shareholders [1]. Industry Context - The comments from Generali's CEO reflect a shift from previous efforts to create a pan-European asset management champion, highlighting challenges in Europe's savings management industry [1]. - There are ongoing consolidation trends in the industry that often conflict with nationalistic sentiments regarding domestic savings [1]. Strategic Partnerships - Generali's partnership with UniCredit in central and eastern Europe is reportedly functioning well, with openness to expanding this commercial partnership [1]. - UniCredit has acquired a stake in Generali, and its CEO is monitoring the situation at the insurer [1].

Core Insights - The article discusses how U.S. taxpayers can effectively utilize their tax refunds, particularly in paying off high-interest credit card debt, which is currently averaging $6,735 per person [1][2] - Tax refunds for the 2025 tax year are projected to be 11% higher than the previous year, with the average refund amounting to $3,742 [1] - The average credit card interest rate is 23.8%, leading to significant savings in interest payments when debt is paid off using tax refunds [1] Tax Refund Utilization Strategies - Paying off credit card debt is emphasized as a primary use for tax refunds, as it can lead to substantial interest savings, estimated at $891 annually for an average debt repayment [1] - Financial experts recommend prioritizing high-interest debt to maximize savings [1] - If credit card debt has low or 0% introductory rates, alternative uses for the tax refund should be considered [1] Emergency Fund and Retirement Savings - Building or topping off an emergency fund is suggested as a secondary use for tax refunds, with recommendations to place funds in high-yield savings accounts to earn interest [1] - Investing in retirement accounts, such as a 401(k) or Roth 401(k), is highlighted as a beneficial use of tax refunds, potentially leading to significant growth over time [1] - Funding a 529 college savings account for children is also recommended as a way to invest in family education [1] Personal Spending - The article concludes with the notion that a small portion of the tax refund can be used for personal enjoyment, suggesting a 4% allocation for discretionary spending [2]

Group 1 - Dollar General forecasts annual comparable sales growth between 2.2% and 2.7%, which is below Wall Street estimates of 2.48% [1] - The company attributes the lower forecast to bargain-hunting customers shifting to Walmart and online retailers for better deals amid economic uncertainty [1]

Group 1 - India's consumer inflation rose for the fourth consecutive month to 3.21% in February, up from 2.75% in the previous month [1] - The headline inflation figure aligns with economists' expectations of a 3.1% increase in the consumer price index, as per a Reuters poll [2] - The base year for the consumer price index was revised from 2012 to 2024 to better reflect changes in consumption patterns [2][3] Group 2 - The government indicated that the base year change was due to significant structural changes in consumption behavior, income levels, urbanization, expansion of the services sector, and digitalization [3] - India's central bank anticipates inflation for the current financial year to be 2.1%, with positive food supply prospects in the near term [3] - Experts believe inflation will remain within the Reserve Bank of India's target range of 2% to 6%, but policy action is unlikely due to the escalating conflict in the Middle East [4]