Italy’s lower house votes to delay shutdown of its four remaining coal plants to 2038, extending the original December 2025 target by 13 years amid global energy crisis. March sea surface temperatures hit 20.97°C, the second-highest on record, paving way for El Niño formation in summer 2026. Emperor penguins and Antarctic fur seals reclassified as Endangered by IUCN due to climate change.
OpenAI completed a $122 billion funding round at an $852 billion valuation, marking one of the largest capital raises in AI history. This infusion bolsters U.S. leadership in artificial intelligence amid surging investor confidence. Meanwhile, OpenAI shut down its Sora video service after daily losses of $1 million against $2.1 million in revenue.
The IMF slashed its 2026 global growth forecast to 3.1% from 3.4% due to Middle East war-induced energy shock with 19% energy price surge. Headline inflation is projected at 4.4%, emerging markets growth at 3.9% down from 4.2%. Adverse scenario sees growth at 2.5%, inflation at 5.4%.
President Trump states the Iran war could end soon, with progress in talks after initial breakdown in Pakistan. US naval blockade turns back Iranian vessels, pressuring the Strait of Hormuz that carries 20% of world daily oil consumption. IMF warns of economic storm clouds amid 2000 deaths and over one million displaced in Lebanon.
Global protest movements intensify with over 108 significant antigovernment demonstrations recorded in twelve months, while Strait of Hormuz tensions threaten worldwide food supply chains. The United States experiences heightened mobilization around foreign policy and labor rights, with major implications for macroeconomic stability and energy markets.
The S&P 500 reached record highs on Wednesday as US-Iran ceasefire negotiations fuel investor optimism. Wall Street banks including Citigroup and Morgan Stanley post substantial gains following quarterly earnings, while banking shares hold their highest levels since 2008.
The US delayed strikes on Iranian energy infrastructure by five days after Trump’s March 21 threat against power plants unless Iran reopens the Strait of Hormuz. The ongoing blockade has driven oil prices up 20%, boosting Russia’s revenues by $15 billion. Operation Epic Fury, launched February 28 with Israel, targeted over 5,000 Iranian sites, crippling its navy and air force.
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