How the conflict in Iran is affecting global markets

NPR | By Charles Maynes,

Published March 14, 2026 at 6:42 AM CDT

Escalation of the Iran conflict is sending shockwaves through global markets — driving up oil, fuel, and commodity prices, stoking inflation and recession risks worldwide. We hear from three NPR reporters in Europe, Asia and Russia.

Charles Maynes

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Rob Schmitz

Rob Schmitz is NPR's international correspondent based in Berlin, where he covers the human stories of a vast region reckoning with its past while it tries to guide the world toward a brighter future. From his base in the heart of Europe, Schmitz has covered Germany's levelheaded management of the COVID-19 pandemic, the rise of right-wing nationalist politics in Poland and creeping Chinese government influence inside the Czech Republic.

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Ashish Valentine

Ashish Valentine joined NPR as its second-ever Reflect America fellow and is now a production assistant at All Things Considered. As well as producing the daily show and sometimes reporting stories himself, his job is to help the network's coverage better represent the perspectives of marginalized communities.

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