Top story for the morning: Iran threatened US government debt holders, IEA estimates war damage

Iran has threatened to attack US government bond holders following Donald Trump's ultimatum demanding Tehran open the Strait of Hormuz in 48 hours. The war in the Middle East has already damaged more than 40 energy facilities in nine countries, according to the IEA. About these and other topics - in our review of key events by the morning of March 23.

Iran has threatened to attack institutional holders of U.S. government bonds amid the expiration of Donald Trump's 48-hour ultimatum to open the Strait of Hormuz, CNBC reports. Iranian Parliament Speaker Mohammad Bagher Ghalibaf said financial institutions that fund the U.S. military budget would be "legitimate targets" alongside military bases. In response to U.S. threats and Israeli support, Iran warned of possible closures of the strait and strikes on the region's energy infrastructure.

Disruptions in shipping through the Strait of Hormuz due to the war are already pushing oil prices up, with Brent back above $113 a barrel, adding to the risks of inflation and a slowdown in the global economy, the channel said.

The war in the Middle East has damaged more than 40 energy facilities in nine countries, which could permanently disrupt global supplies, IEA head Fatih Birol said, Bloomberg reports. Damage to oil fields, refineries and pipelines means recovery will take time, with disruptions already comparable to the energy crises of the 1970s and 2022.

Almost halted shipping through the Strait of Hormuz and disruptions in the supply of oil, gas and key resources - from fertilizer to helium - are adding pressure to the global economy, especially in Asia, the agency said. The IEA has previously begun selling off strategic reserves, but the key to stabilization remains the opening of the strait.

Donald Trump's pressure on Fed chief Jerome Powell may paradoxically extend his stay among the Fed's governors, Yahoo Finance writes. Powell said he is ready to remain as acting chairman if Trump's nominee Kevin Warsh is not confirmed in time and does not leave the board of governors until the US Justice Department investigation is completed.

The investigation has already stalled Worsh's confirmation and intensified the conflict between the White House and the Fed. Despite Trump's harsh criticism, the situation could lead to Powell retaining influence longer than expected, emphasizing the importance of the central bank's independence, the publication points out.

Goldman Sachs raised its oil price forecast for 2026 due to prolonged disruptions in the Strait of Hormuz, calling the situation the largest supply shock in the history of the market, Bloomberg reports. Brent is now expected at $85 per barrel (instead of $77) and WTI at $79 (instead of $72), assuming supplies through the strait are severely constrained in the coming weeks.

Analysts estimate the cumulative losses at more than 800 million barrels, and the peak of production decline in the Middle East - up to 17 million bpd, the agency points out. decades.

- Japan's broad Topix index was down 3.3 percent, while the Nikkei 225 was down 3.5 percent.

- Hong Kong's Hang Seng index was down 4 percent, while mainland China's CSI 300 index was down 3.6 percent.

- In South Korea, the Kospi index was down 6.6 percent and the Kosdaq was down 5.6 percent.

- Australia's S&P/ASX 200 was down 0.7 percent.

- S&P 500 futures were down 0.6 percent, Nasdaq 100 futures were down 0.7 percent and Dow Jones Industrial Average exchange-traded contracts were down 0.5 percent.

This article was AI-translated and verified by a human editor