2026 started well through February but then markets were uprooted as President Trump started a war with his attack on Iran. Our 2026 Equity Market Outlook expected 2026 to see more volatility particularly in the US as the Mid-Term elections approached in November. Trump brought it all forward. We think it will be helpful to first examine how financial markets were performing before Iran. Then we will analyse the war period, commodity, asset and financial market moves before looking forward to the rest of the year and beyond with particular reference to the UK equity market.
