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In just over nine weeks, the Iran war has sent shock waves through the global economy with major signs of slowdown emerging across multiple parts of the world. Rising energy costs are fueling inflation, straining production and raising fears of a recession. We turn to our correspondents in Europe, Africa, Latin America and, first, Asia.

The International Monetary Fund trimmed its global growth forecast for 2026 as the oil-price shock from war in the Middle East rippled across economies worldwide.

The International Monetary Fund says the world will suffer an oil shortfall this year – even if the war with Iran were resolved this week – becoming the latest major economic body to warn of severe likely and potential impacts of the conflict.

In just eight weeks, much of the global economy has been knocked sideways. America has mostly been spared from the tumult.

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Analysts say rising gas prices are just the start. The most serious consequences of the war with Iran could hit the global economy in the coming weeks and months.

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