March 5, 2026

Key points Volatility in global stock markets and currencies, with oil rising again due to the conflict in the Middle East. The U.S. services sector accelerated in February to 56.1 points and continues advancing toward 2022 highs. Trump’s global 15% tariffs could come into effect this week. The Fed’s Beige Book shows an improvement in the economy and moderation in inflation. China sets its lowest growth target in decades: between 4.5% and 5% for 2026. Retail sales in the Eurozone surprised with a decline in January.