Institutional Model

Commentary

Markets brace for uncertainty after U.S. and Israel strike Iran

The wider economic impact of this conflict will depend on how long these tensions last and how much they disrupt global trade.

By: Brad Pineault Anu Gaggar Beau Coash John Cassidy

Updated: 3/2/2026

Key market and economic takeaways

Since the strikes began:

Oil prices have climbed while stocks have fallen. Brent crude oil, the global energy benchmark, rose about 8% earlier today.
Investors seeking safety have fueled a rally in the U.S. dollar and Swiss franc.
Yields across the U.S. Treasury yield curve advanced by six to seven basis points in early trading today, as the market anticipates potential inflation should high oil prices persist.
Safe-haven assets, such as gold, have attracted attention as investors look for stability.

Get the full white paper

Markets brace for uncertainty after U.S. and Israel strike Iran

Next steps to consider

Asset Class Overview

Explore strategies and custom solutions across asset classes, designed to help you face your most complex challenges head on.

Learn more

Outsourced CIO

Explore outsourced CIO solutions tailored to your needs, powered by Fidelity’s deep investment capabilities and proprietary research.

Learn more

Alternative Investments

Discover a wider range of new investment opportunities with our growing lineup of alternative investments.

Learn more

Related insights

View all

Potential implications of SCOTUS ruling on tariffs

Overview of the potential implications for markets and the economy.

Potential implications of the latest U.S. debt downgrade

While it may not be a major market event, it pinpoints important fiscal concerns.

Assessing ongoing trade tension and investment implications

With rapid tariff-driven changes in U.S. trade policy still reverberating around the world, a group of Fidelity’s experts met to assess the state of play amid ongoing uncertainty.

For important information, see the full linked content.

1251230.1

5F2627E4FFA149F5B8076BA358D6A6F0

Past performance is no guarantee of future results.

This information is intended for the sole use of institutional investors. Retail investors and any other persons who are not institutional investors should not act or rely on this information.

Unless otherwise expressly disclosed to you in writing, the information provided in this material is for educational purposes only. Any viewpoints expressed by Fidelity are not intended to be used as a primary basis for your investment decisions and are based on facts and circumstances at the point in time they are made and are not particular to you. Accordingly, nothing in this material constitutes impartial investment advice or advice in a fiduciary capacity, as defined or under the Employee Retirement Income Security Act of 1974 or the Internal Revenue Code of 1986, both as amended. Fidelity and its representatives may have a conflict of interest in the products or services mentioned in this material because they have a financial interest in the products or services and may receive compensation, directly or indirectly, in connection with the management, distribution, and/or servicing of these products or services, including Fidelity funds, certain third-party funds and products, and certain investment services. Before making any investment decisions, you should take into account all of the particular facts and circumstances of your or your client's individual situation and reach out to an investment professional, if applicable.

Registered investment products (including mutual funds and ETFs) and collective investment trusts managed by Fidelity Management Trust Company (FMTC) are offered by Fidelity Distributors Company LLC (FDC LLC), a registered broker-dealer. Fidelity Institutional Asset Management (FIAM) investment management services and products are managed by the Fidelity Investments companies of FIAM LLC, a U.S. registered investment adviser, or Fidelity Institutional Asset Management Trust Company, a New Hampshire trust company. FIAM products and services may be presented by FDC LLC, a non-exclusive financial intermediary affiliated with FIAM and compensated for such services.