Markets in 2026: A First Half Defined by Persistent Doubts and Geopolitical Shocks

The first half of 2026 proved to be a period of constant questioning and uncertainty across global financial markets. Following a 2025 characterized by the return of customs tariffs and persistent inflation, 2026 was anticipated to bring a decline in inflation and subsequent interest rate cuts by the Federal Reserve. However, these expectations were repeatedly disrupted by geopolitical developments.

Early in the year, investor sentiment was already fragile, especially within the technology sector. Concerns surrounding the massive investments, totaling hundreds of billions, in artificial intelligence (AI) and their future profitability remained unresolved. This underlying anxiety contributed to the overall market nervousness.

The article, a chronicle from Le Temps, suggests that geopolitical tensions have significantly impacted market dynamics, overriding anticipated economic trends. While the piece is behind a paywall, its framing indicates a critical look at how global events have challenged established economic forecasts and investor confidence throughout the first half of the year.