Market Turmoil: A stronger-than-expected U.S. jobs report triggered Wall Street’s worst day of 2026, with the S&P 500 down 2.64% and the Nasdaq off 4.18%, pushing the VIX up 40% as investors rotated out of high-growth trades. Retail & Consumer Demand: U.S. shoppers are still spending, but retailers say lower-income customers are trimming as higher gas and food costs build—suggesting a broader pullback once tax refunds fade. Energy & Commodities: Rosneft’s CEO says India will drive nearly half of global oil demand growth to 2035, while warning that Strait of Hormuz disruptions could hit fertiliser and food prices worldwide. Supply Crunch Risk: Peru’s power crisis is threatening about 15% of global silver output, with electricity costs soaring and production under stress. Tech & Markets: SK Hynix briefly hit $1T but fell back after a sharp selloff, while retail investors keep piling into AI chip names—raising concerns about crowded, momentum-driven positioning. Local Business & Policy: HMRC VAT rules now allow VAT-registered firms to donate eligible goods to charities without VAT charges, easing pressure on donations.