Markets take a hit despite Trump’s promise

South Korea’s Kospi recorded its worst day on recordIt fell 12% on Wednesday. Asian markets saw losses across the board, while US markets also fell. The S&P 500 fell 0.94%, while the Dow lost 0.83%. At one point, the Dow fell more than 1,200 points. The Nasdaq Composite fell 1.02%.

The Gulf states said their stockpiles of weapons were sufficient Iran has continued its drone and missile attacks on the fifth day of its war with Israel, and US executives from US defense contractors Lockheed Martin and RTX, the parent company of Raytheon, are expected to meet with White House officials on Friday to discuss speeding up weapons production.

Global central banks are facing new tests As the Middle East conflict widens, it complicates policymakers’ calculus to boost growth amid risks of an oil shock and renewed inflation.

Chinese factory activity slowed In February, manufacturers paused production and freight to celebrate an extended holiday. The official manufacturing purchasing managers’ index fell to 49 in February, according to the National Bureau of Statistics, missing economists’ forecast for 49.1.

China is all set to begin its “Two Sessions” meeting. What are the key announcements?

China’s top policymakers will release growth targets and stimulus plans for the year at an annual parliament meeting starting Wednesday.

The so-called “two sessions” of the gathering will include a consultative congress that will begin later in the day and a National People’s Congress that will open on Thursday.

At an upcoming parliament session this year, policymakers are expected to release details of a new five-year development plan, the 15th program in China’s modern history.