Even ahead of the US and Israeli assault on Iran and its proxies in Lebanon the global landscape was fraught. Financial markets have been unusually skittish, affected by fractures in private credit which led several funds, including those run by heavyweight Morgan Stanley, to gate withdrawals. There is also concern that common sense has been left behind in the race for AI, leading to excessive leverage. As the International Monetary Fund’s (IMF) managing director Kristalina Georgieva notes, even if the ceasefire announced by President Trump holds, terrible damage has been done. Investors would be foolish to take comfort from a retreat in Brent crude oil prices from $120 to below $100 a barrel.

Source: Daily Mail April 10, 2026 15:11 UTC