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

On today's podcast:

(1) A selloff in stocks, gold and bonds deepened as the US and Iran hardened their rhetoric and signaled a potential escalation to their conflict, which is entering its fourth week.

(2) US President Donald Trump gave Iran a two-day deadline to reopen the Strait of Hormuz or have its power plants bombed, upping the ante in a war now in its fourth week with no sign of de-escalation.

(3) UK Prime Minister Keir Starmer will hold an emergency meeting with his top ministers and Bank of England Governor Andrew Bailey on the Iran crisis on Monday, as the clock ticks on President Donald Trump’s two-day deadline to open the Strait of Hormuz.

(4) Chancellor Friedrich Merz’s party dislodged the Social Democrats from power after 35 years in a southwestern German state, notching a win for a conservative leader struggling to gain nationwide traction among voters.

(5) Socialist Emmanuel Gregoire was on course to win the race for Paris mayor on Sunday, extending the left’s quarter-century hold on the French capital.

Podcast Conversation: Why the Great Unraveling Will Be So Hard to Stop: Clive Crook

Your morning briefing. All the news you need to start your day. On today's podcast: (1) A selloff in stocks, gold and bonds deepened as the US and Iran hardened their rhetoric and signaled a potential escalation to their conflict, which is entering its fourth week. (2) US President Donald Trump gave Iran a two-day deadline to reopen the Strait of Hormuz or have its power plants bombed, upping the ante in a war now in its fourth week with no sign of de-escalation. (3) UK Prime Minister Keir Starmer will hold an emergency meeting with his top ministers and Bank of England Governor Andrew Bailey on the Iran crisis on Monday, as the clock ticks on President Donald Trump&rsquo;s two-day deadline to open the Strait of Hormuz. (4) Chancellor Friedrich Merz&rsquo;s party dislodged the Social Democrats from power after 35 years in a southwestern German state, notching a win for a conservative leader struggling to gain nationwide traction among voters. (5) Socialist Emmanuel Gregoire was on course to win the race for Paris mayor on Sunday, extending the left&rsquo;s quarter-century hold on the French capital. Podcast Conversation: <a href="https://www.bloomberg.com/opinion/articles/2026-03-22/how-globalization-gave-way-to-fragmentation" data-destination="https://www.bloomberg.com/opinion/articles/2026-03-22/how-globalization-gave-way-to-fragmentation">Why the Great Unraveling Will Be So Hard to Stop: Clive Crook</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

War Triggers Global Selloff, Trump’s 48h Deadline, Watching Iran From Afar

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/8c064711-6517-4aa7-b8b3-b416006e028a/transcript