Daily Digest — 2 May 2026

The escalating conflict with Iran continued to dominate global markets and politics, with oil prices falling 3% to $102 despite Exxon’s CEO warning that “the market hasn’t seen the full impact” of the crisis. President Trump’s inflammatory rhetoric about US forces acting “like pirates” seizing Iranian ships near the Strait of Hormuz underscored the volatile geopolitical backdrop, while a protester occupied Washington’s Frederick Douglass Memorial Bridge to oppose the war.

The tension is reshaping global alliances, with the US cutting troop levels in Germany by 5,000 amid a diplomatic row over Iran policy. Meanwhile, precious metals offered a hedge against uncertainty — gold edged up 0.3% to \(4,644 while silver surged 3.2% to \)76.

In crypto markets, regulatory clarity emerged as new legislation allows stablecoin rewards while restricting bank-like deposits, helping lift Bitcoin 1.3% to $78,094. The space is evolving rapidly as Riot’s shares jumped 8% on an expanded AMD partnership signaling the miner’s pivot toward AI infrastructure, while the Ethereum Foundation sold another 10,000 ETH as part of its treasury strategy.

The aviation sector faced fresh turbulence as Spirit Airlines prepared to shut down after failed bailout talks, while in the UK, rising tensions around antisemitic incidents led to calls from the Prime Minister for potential restrictions on protests and reports of British Jews hiding religious symbols for safety.