Key points

• Volatility in global stock markets and currencies, with oil rising again due to the conflict in the Middle East.

• The U.S. services sector accelerated in February to 56.1 points and continues advancing toward 2022 highs.

• Trump’s global 15% tariffs could come into effect this week.

• The Fed’s Beige Book shows an improvement in the economy and moderation in inflation.

• China sets its lowest growth target in decades: between 4.5% and 5% for 2026.

• Retail sales in the Eurozone surprised with a decline in January.