Latest news for 9 March 2026

JAPAN

Crash.

It’s been a brutal market opening across Asia, with Japan’s Nikkei 225 down ~6.5%, South Korea’s Kospi down 7%, and Australia’s ASX 200 down 3%. With crude prices blowing past $110, markets fear energy costs will hit growth, while key supply nodes are sounding the Hormuz alarm: eg, Japan’s Sumitomo chemical operations out of Singapore have reportedly declared force majeure, squeezing agricultural, mining, and other clients across the region. (NYT $)

Comment: We also wonder at what point the Gulf states will hit pause on their pledges to bankroll the data centre rollout across the US and beyond. Speaking of AI, this hydrocarbon chaos is all playing out against relentless AI developments — responding to the US economy shedding an unexpected 92,000 jobs in February, the White House’s Kevin Hassett framed it as a productivity win, though the share of that win going to workers is now at its lowest since records began (1940s).

CUBA

Surprise deal?

US outlets are reporting DC and Havana could be on the cusp of announcing a big economic deal. Details and timing remain TBC, but rumours include an off-ramp for Cuba’s leader (Díaz-Canel) plus the Castro family getting to stay on the island, in return for deals on ports, energy, tourism, and maybe sanctions relief. (USA Today)

Comment: In addition to Cuba wanting to avoid a Maduro 2.0, we wonder whether the current blowback on one US priority (Iran) might make DC a little more flexible to secure another (Cuba). And… while we’re in Havana, last night’s 60 Minutes featured a CIA whistle-blower arguing the infamous Havana Syndrome symptoms hitting US spies and diplomats are the result of a directed energy weapon wielded by Russia’s notorious military intelligence Unit 29155.

CHINA

Still on.

Foreign Minister Wang Yi has suggested President Trump’s upcoming visit to China is still scheduled for late March despite the conflict in the Middle East. (SCMP)

NEPAL

New leadership.

Rapper-turned-politician Balendra Shah looks set to become Nepal’s next prime minister after his centrist-populist party crushed last week’s general elections with the biggest majority since the country’s 1990s move to democracy. It’s a rejection of the establishment after last year’s mass Gen-Z-led protests. (Guardian)

UNITED STATES

Shield of the Americas.

President Trump has hosted 12 Latin American leaders in Miami for his new security-led anti-drug trafficking initiative, ‘Shield of the Americas’. (The Hill)

INDONESIA

Another social media ban.

Indonesia will ban social media for kids under 16 from 28 March. (DW)

SWITZERLAND

Democracy manifest.

Swiss voters have passed measures to enshrine the right to cash in the country’s constitution, and to eliminate a tax structure that disadvantages working couples. Voters rejected measures to increase climate funding and reduce public broadcaster fees. (Swissinfo.ch)