As the world watches the ongoing conflict between the US and Iran unfold, markets and economies are feeling the turbulence. In this weekend news recap, we’ll dive into the latest developments and their potential impacts on various sectors.

Firstly, traders are bracing for a volatile opening on Monday as the war between the US and Iran shows no signs of abating. Both sides have been exchanging threats and carrying out military actions, with key infrastructure being targeted. According to Bessent, the US is determined to press ahead with its campaign in Iran, with the Hormuz waterway in their sights.

Meanwhile, missiles are flying across the Middle East, causing concern among pilots and crushing truckers who are feeling the pinch of soaring diesel prices. The impact of these price hikes is expected to be felt across the economy soon enough. Iran’s Houthi allies have also been spotted on another key oil route, while the country has brought Europe within range with missiles fired at Diego Garcia.

In the options market, investors are reverting to their 2022 playbook for Iran war risks, with BTC dropping below $69,000 as war fears weigh on crypto markets. On a more positive note, Mexico’s Ebrard has expressed encouragement from preliminary trade talks with the US, while Germany’s conservatives have secured an election win in a socialist haven.

In terms of mergers and acquisitions, UniCredit is weighing options that could potentially sweeten its Commerzbank bid, while Fannie and Freddie have placed large bids for mortgage-backed securities. Tesla and SpaceX are planning to build a new chip factory in Texas, while Amazon has scored its biggest hit movie ever with ‘Project Hail Mary’.

Lastly, America Movil’s Claro is set to buy Desktop SA in a $750 million deal, while Poste has launched an €10.8 billion offer to delist Telecom Italia.