U.S. President Donald Trump speaks to the media flanked by U.S. Secretary of State Marco Rubio as he departs the White House for Florida on March 20, 2026 in Washington, DC, USA.
Nathan Howard | Reuters
Hello, my name is Dylan Butts from Singapore. Welcome to another edition of CNBC’s Daily Open.
The Middle East conflict entered its fourth week over the weekend, with US President Donald Trump and the Iranian government issuing dueling warnings over the Strait of Hormuz.
The closure of the vital shipping route has spooked international markets, as the U.S. government faces pressure to rein in energy prices and reopen waterways.
What you need to know today
US President Donald Trump on Saturday issued a tough ultimatum to Iran, threatening to “destroy” Iran’s power plants if it did not fully reopen the Strait of Hormuz within 48 hours.
Iran responded by warning that if the U.S. followed through on its threats, it would target U.S. infrastructure in the Gulf, including energy and desalination facilities.
The speaker of Iran’s parliament also warned that financial institutions that support the US military budget are legitimate targets and that buyers of US debt are buying “attacks on headquarters and assets.”
The duel warnings were issued after Iran targeted Israeli nuclear facilities following reports of attacks on Iran’s nuclear enrichment facilities by the United States and Israel. The Israeli military said the missiles were unable to intercept them and landed in the southern cities of Dimona and Arad.
The escalation has raised concerns among business executives that the conflict could drag on for months, prolonging global economic uncertainty.
Oil prices stabilized on Monday, but some analysts warned that further escalation, including strikes on critical infrastructure and energy facilities in the Middle East, could push prices higher.
Wall Street’s three major indexes ended last week lower, but U.S. stock futures were little changed on Monday. The S&P 500 fell more than 1.5%, falling below its 200-day moving average for the first time since May. Last week, the Dow and Nasdaq each fell about 2%, marking the first four-week losing streak since 2023.
— Dylan Butts
And finally…
From satellites to space data centers: Why low-Earth orbit attracts billions of dollars in investment
A new layer of critical infrastructure is emerging above our heads.
Low Earth orbit (LEO), defined by NASA as space below 2,000 km altitude, is rapidly evolving from a niche technology area to one of the most strategically important environments of the 21st century.
It underpins global navigation, telecommunications, defense and global connectivity, and is expected to attract a flood of investment.
— Tessa McCann
