Stocks set for tough week, oil eyes big gains as Middle East war rages

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Trump replaces Homeland Security chief Kristi Noem Oil extends weekly gains as Iran conflict rages on, with crude surging around 18% Wall Street ends lower on escalating Iran conflict, report of AI export curbs Trump says he must be involved in selecting Iran’s next leader (South Africa Philippines Nigeria) Stocks set for tough week, oil eyes big gains as Middle East war rages By Stock Markets Published 03/05/2026, 08:50 PM Updated 03/05/2026, 08:54 PM Stocks set for tough week, oil eyes big gains as Middle East war rages 0 Euro US Dollar 0.09% British Pound US Dollar 0.10% Gold Spot US Dollar 1.05% DE40 -1.61% JP225 -0.37% GC 1.24% CL -1.89% US2YT=X -0.58% US10YT=X -0.22% KS11 -1.83% STXXc1 0.00% MIPFJIN00PUS -0.58% LCOmdc1 0.00% By Rae Wee SINGAPORE, March 6 - Asia stocks fell on Friday and were headed for their sharpest weekly drop in six years while oil prices were poised for their biggest jump in three in a turbulent week for global markets as the conflict in the Middle East showed few signs of easing. Investors sought the safety of cash as they sobered up to the fact that the U.S.-Israel war on Iran could drag on longer than initially anticipated. They also moved to price in more hawkish rate expectations from major central banks, spooked by the prospect of a resurgence in inflation if the spike in energy prices persists. Yields on U.S. Treasuries have shot up some 18 basis points this week, their most in nearly a year, while the dollar was set for its largest weekly gain in 16 months. "The range of plausible outcomes (of the war) has expanded to include both the possibility of an exceptionally constructive resolution and a highly destructive one," said Daleep Singh, chief global economist at PGIM Fixed Income. "Markets are being asked to price a much fatter set of tails with very little reliable information about the likelihood of each, or the path in between." The war has thus far had the biggest impa...