US-Israel-Iran War Triggers USD11.5T Global Market Wipeout in March

(MENAFN) Global stock markets have hemorrhaged trillions of dollars in market value since the outbreak of hostilities between the U.S., Israel, and Iran, as panic-driven selling swept risk assets worldwide amid an unprecedented energy crisis.

Tensions ignited on Feb. 28, when Washington and Tel Aviv launched a joint military offensive against Tehran — prompting Iran to strike energy infrastructure across the Gulf region, sending shockwaves through commodity markets and stoking fears of a prolonged inflationary spiral.

A Market Meltdown by the Numbers
The Bloomberg World Exchange Market Capitalization index — tracking dozens of exchanges globally — plummeted from $157.5 trillion to $146 trillion through the month of March, erasing $11.5 trillion in total value. Oil prices have surged approximately 45%, while gold paradoxically declined around 15%. Major global indexes broadly shed roughly 10% over the same period.

U.S. Markets
American equities bore a significant share of the carnage. The S&P 500 alone has shed more than $5 trillion in March, tumbling 7.4% — or 114.74 points — to close at 6,368.85, down from 6,878.88 on Feb. 27.

The Dow Jones Industrial Average slid 7.77%, shedding 469.38 points to settle at 45,167.44, compared to 48,977.92 at the end of February. The Nasdaq composite fell sharply by 7.6%, losing 521.74 points to close at 20,948.36, retreating from 22,668.21.

European Markets
European bourses were similarly battered. The pan-European Stoxx Europe 600 dropped 9.2% to 575.30 on March 28, down from 633.85 on Feb. 27.

Among individual markets, Germany's DAX led losses with an 11.8% decline to 22,300.75, followed by France's CAC 40, which shed 10.2% to close at 7,701.95. The UK's FTSE 100 fell 8.6% to 9,967.35, Spain's IBEX 35 dropped 8.5% to 16,802.50, and Italy's FTSE MIB 30 lost 8.1% to finish at 43,379.10.

Asian Markets
Asian equities were not spared. The Asia Dow — tracking blue-chip companies across the region — tumbled 10.2% to 5,336.12 over the same period. South Korea's Kospi was among the hardest hit, plunging 12.9%, while India's Sensex lost 9.5%.

Tokyo's Nikkei 225 declined 9.3% to close at 53,373.07. Hong Kong's Hang Seng fell 6.3% to 24,951.88, and China's Shanghai Stock Exchange retreated 6% to 3,913.72 — among the more contained losses in the region.

The convergence of military conflict, an energy price shock, and cascading market sell-offs has raised alarms among economists over the durability of global growth, with no clear resolution to the conflict in sight.

MENAFN28032026000045017169ID1110912559