Stocks plunge2 Mar 2026 14:36
"UK stock indexes fell on Monday, swept up in a global selloff, as an escalating military conflict in the Middle East sparked a jump in oil prices and pushed investors towards safe-haven assets.
Oil prices surged almost 8% after retaliatory Iranian attacks disrupted shipping in the crucial Strait of Hormuz following the weekend’s bombing by Israel and the United States that killed Iranian Supreme Leader Ayatollah Ali Khamenei. [O/R]
While British oil majors such as Shell rose 2% and defence companies like BAE Systems climbed 4.9%, other equity sectors, particularly banks and travel companies, came under heavy selling pressure as investors braced for travel and economic disruptions.
The blue-chip FTSE 100 fell 1% by 1131 GMT, having touched a record high in the prior session, while the domestically oriented FTSE 250 index tumbled 1.3%.
“If the issues persist, then the market will start to worry about new inflationary pressures and that could lower expectations for near-term interest rate cuts,” said Dan Coatsworth, head of markets at AJ Bell.
Heavyweight banks, including HSBC, Barclays and Lloyds Banking Group fell between 2.7% and 4.7%, as surging oil prices fuelled concerns about a resurgence of inflation."
Impact on lloyds not too bad yet, but it's early days in this conflict!
In any fight, there is a winner and loser!
American may well have overextended itself here, so factor in the US losing this conflict it started and how it may impact markets!
https://wtvbam.com/2026/03/02/uk-stocks-plunge-as-iran-conflict-sparks-global-selloff/