Markets React to Inflation, Iran Tensions
Markets are reacting to steady inflation data and geopolitical tensions, including Iran's threats to US tech firms noted.
February's CPI rose 0.3% month-over-month and 2.4% year-over-year, matching expectations, but doing little to calm market jitters. The data, collected before the escalation with Iran, had a muted impact as investors focused on geopolitical risks. Iran's Islamic Revolutionary Guard Corps (IRGC) has identified US tech firms like Amazon, Google, Microsoft, Nvidia, IBM, Oracle, and Palantir as "legitimate targets". This includes their regional offices and infrastructure in places like Bahrain, Israel, Qatar, and the UAE. The IRGC-affiliated Tasnim News Agency released a list of specific facilities, describing them as "Iran's new targets". These targets include data centers and R&D facilities. Financial institutions in Dubai are increasing security and implementing remote work options. This follows closures of US diplomatic missions in the UAE and threats against American lenders.
