What Are Other Funds Doing?
Date: 2026-03-02
Note: Palace Fund does not invest in defense, weapons, or any securities that fund war. This research is conducted to understand how geopolitical events impact financial markets at large — not to identify war-related investment opportunities.
On February 28, the US and Israel launched Operation Epic Fury against Iran. Supreme Leader Khamenei was killed. Iran retaliated with missiles across six countries. The Strait of Hormuz — carrying 20% of global oil — is effectively shut down.
This is the most significant geopolitical market shock since 2022. Every asset class is moving. This wiki breaks down what is happening, why, and what to watch.
Start Here
- timeline — Hour-by-hour: what happened and when markets moved
- oil-and-hormuz — The oil shock and Strait of Hormuz closure
- gold-and-safe-havens — Gold, Treasuries, currencies, and the flight to safety
- equities — Stocks, sectors, and what’s getting hit
- fed-and-rates — The Fed’s dilemma: inflation vs. growth
- who-to-watch — JP Morgan, Goldman, Bridgewater, Buffett, and others
The Big Picture (as of March 2)
Three things will determine what happens next:
- Hormuz duration — If it reopens in days, markets recover. If weeks, we enter a new regime. See oil-and-hormuz.
- Fed response — Oil-driven inflation vs. growth support. They can’t do both. See fed-and-rates.
- Conflict escalation — Contained strikes vs. prolonged war. Trump says “four weeks or less.” Iran is hitting six countries. See timeline.
Wall Street Consensus
Haven-first: gold, Treasuries, Swiss franc. Underweight equities. Duration of energy shock is the key variable.