The S&P Merval index fell by 2.32% to its lowest point since March, driven by global market volatility and domestic fiscal policy concerns. The country's risk premium increased by 3% to 555 basis points, indicating heightened investor caution. Key sectors such as banking and construction saw significant declines.

Δ Merval index reached new lows; risk premium increased.

The UAE's forthcoming withdrawal from OPEC has sparked immediate speculation and activity in global oil markets, with traders bracing for increased price volatility. Analysts predict adjustments in oil supply dynamics, potentially affecting global energy prices.

Δ Increased speculation around global oil supply dynamics and price volatility due to UAE's decision.

Ukrainian drones struck the Primorsk oil terminal and two oil tankers near Novorossiysk, aiming to disrupt Russia's oil export capabilities. These attacks have led to temporary halts in operations at key Russian oil ports.

Δ Ukrainian drone attacks have intensified, now targeting the Baltic Sea region, specifically the Primorsk terminal and supporting coordinated strikes on Russian oil tankers.

Oil prices surged nearly 6% to $114.44 per barrel as violence escalated in the Strait of Hormuz, with the U.S. military destroying six Iranian boats following attacks on commercial vessels. The UAE also faced missile and drone strikes from Iran, raising concerns over ongoing disruptions in oil supply.

Δ Escalation in violence and direct military actions involving U.S. and Iranian forces impacting a critical oil chokepoint.

The UAE has officially announced its exit from OPEC effective May 1, 2026, prompting OPEC+ to increase production by 188,000 barrels per day. This decision may weaken OPEC's influence and lead to increased global oil market volatility. Analysts predict a shift in Gulf geopolitics due to growing divergences between the UAE and Saudi Arabia.

Δ The official date and specifics of UAE's exit and OPEC+'s response were provided.

U.S. stock markets have declined due to rising oil prices influenced by recent attacks in the Middle East. The S&P 500 fell by 0.4%, the Dow Jones by 1.1%, and the Nasdaq by 0.2%, reflecting increasing geopolitical tensions.

Δ Recent attacks in the Middle East have led to rising oil prices, causing a decline in major U.S. stock indices.

On May 4, 2026, Iran fired missiles and drones at military and commercial ships in the Strait of Hormuz, leading to a significant escalation as U.S. forces responded by shooting down seven Iranian fast boats. This incident follows a recent ceasefire.

Δ Iran's actions and the U.S. military response signal a new escalation in the Strait of Hormuz, breaking the ceasefire.

The Nigerian naira appreciated to N1,367.5 per US dollar on May 4, 2026, reflecting continued gains and improved market stability despite global currency pressures. The Central Bank of Nigeria indicates reduced volatility in the forex market.

Δ Naira appreciation and reduced market volatility.

The Pakistan Stock Exchange (PSX) saw a substantial rally with the KSE-100 index rising over 4,000 points due to improved investor sentiment amid Iran-U.S. tensions and efforts to stabilize global energy routes.

Δ Significant intraday surge of over 4,000 points in the KSE-100 index.

The KOSPI index reached a new record high of 6,936.99 on May 4, 2026, driven by a surge in semiconductor stocks like SK hynix, which gained 12.52% and surpassed a market cap of 10 trillion won. Foreign and retail investor activities significantly contributed to this rally.

Δ KOSPI index level increased to 6,936.99 with notable foreign buying and SK hynix's market cap milestone.

Prime Minister Sanae Takaichi highlighted the significant impact of the global oil supply squeeze on the Asia-Pacific region, urging Japan and Australia to collaborate on securing stable energy supplies.

Δ Prime Minister's statement underscores the region-specific urgency and the need for international collaboration.

The Japanese yen appreciated significantly against the US dollar to 155.69, prompting market speculation about potential intervention by the Japanese authorities. Traders are on alert for further official actions to stabilize the currency.

Δ Significant appreciation of the yen, raising speculation of government intervention.