Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Oil resumed gains — paring a steep drop from Monday — on concern that other nations may be drawn into the Middle East war.

(2) Donald Trump’s decision to back down from his threat to destroy Iran’s power infrastructure came after US allies and Gulf countries privately warned the president of the dangers of following through with his threat, according to people familiar with the matter.

(3) The supply shockwaves from the US and Israel’s war in Iran are spreading across the global economy, raising concerns about an inflation hit to companies and consumers that will require policymakers to raise borrowing costs.

(4) UK prime minister Keir Starmer said he is looking at wider measures to support Britain’s economy through the Iran crisis as he prepares to chair an emergency meeting on the economic impact of the conflict.

(5) The European Union and Australia agreed to a free-trade deal, wrapping up almost a decade of talks as the two sides push to tighten ties and reinvigorate a rules-based order that’s under assault from the Trump administration.

Podcast Conversation: Trump’s Wild, 5-Minute Rally Sends Clear Message to Wall Street

Your morning briefing. All the news you need to start your day. On today's podcast: (1) Oil resumed gains &mdash; paring a steep drop from Monday &mdash; on concern that other nations may be drawn into the Middle East war. (2) Donald Trump&rsquo;s decision to back down from his threat to destroy Iran&rsquo;s power infrastructure came after US allies and Gulf countries privately warned the president of the dangers of following through with his threat, according to people familiar with the matter. (3) The supply shockwaves from the US and Israel&rsquo;s war in Iran are spreading across the global economy, raising concerns about an inflation hit to companies and consumers that will require policymakers to raise borrowing costs. (4) UK prime minister Keir Starmer said he is looking at wider measures to support Britain&rsquo;s economy through the Iran crisis as he prepares to chair an emergency meeting on the economic impact of the conflict. (5) The European Union and Australia agreed to a free-trade deal, wrapping up almost a decade of talks as the two sides push to tighten ties and reinvigorate a rules-based order that&rsquo;s under assault from the Trump administration. Podcast Conversation: <a href="https://www.bloomberg.com/news/articles/2026-03-23/trump-s-wild-5-minute-rally-sends-clear-message-to-wall-street" data-destination="https://www.bloomberg.com/news/articles/2026-03-23/trump-s-wild-5-minute-rally-sends-clear-message-to-wall-street">Trump&rsquo;s Wild, 5-Minute Rally Sends Clear Message to Wall Street</a>

Bloomberg Daybreak Europe is the daily morning podcast that helps you understand the stories shaping Europe and the world before the day gets going.

Produced in the early hours each weekday, the show delivers fresh reporting, sharp analysis and clear context on politics, business and global markets by 7am London time. From decisions made in Brussels and London to developments across the global economy, Daybreak Europe connects the dots between power, policy and money.

Hosted by Stephen Carroll in Brussels and Caroline Hepker in London, and powered by Bloomberg’s global network of more than 3,000 journalists and analysts, the podcast goes beyond headlines to explain what is changing, why it matters and what could come next.

Trusted by professionals, business leaders and investors, but made for anyone curious about how economics and politics shape everyday life, Bloomberg Daybreak Europe is the essential way to start your morning informed and ahead.

Bloomberg Daybreak Europe is the daily morning podcast that helps you understand the stories shaping Europe and the world before the day gets going.
Produced in the early hours each weekday, the show delivers fresh reporting, sharp analysis and clear context on politics, business and global markets by 7am London time. From decisions made in Brussels and London to developments across the global economy, Daybreak Europe connects the dots between power, policy and money.
Hosted by Stephen Carroll in Brussels and Caroline Hepker in London, and powered by Bloomberg&rsquo;s global network of more than 3,000 journalists and analysts, the podcast goes beyond headlines to explain what is changing, why it matters and what could come next.
Trusted by professionals, business leaders and investors, but made for anyone curious about how economics and politics shape everyday life, Bloomberg Daybreak Europe&nbsp;is the essential way to start your morning informed and ahead.

Bloomberg Daybreak: Europe Edition

Gulf States Weigh Joining War, Iran Denies Trump Talks, EU-Australia Trade Deal

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/6e7397f5-8a9d-40a5-b7f2-b417006f26cf/transcript