An Iranian woman walks past an anti-US and anti-Israel mural painted on a wall in the capital Tehran on May 10, 2026. Global markets face renewed turmoil as geopolitical tensions rise between the US and Iran, pushing oil prices higher and complicating the global economic landscape.
Just weeks into the second quarter of 2026 and global markets are once again being disrupted by United States (US) President Donald Trump’s geopolitical strategy.
This time, however, the trigger is not tariffs, but the US conflict with Iran, which has unsettled markets, pushed oil prices higher and complicated the global interest rate cycle.
Almost exactly a year ago, President Trump sent the global economy into a panic with the announcement of blanket tariffs on all US trading partners.
Markets slumped, before he introduced a pause to allow conditions to stabilise.
