Wild March, kittens and chocolate coins

As we head into this Easter weekend, we have a brief pause for breath on Good Friday, as main markets close. The US markets are still open on Easter Monday, for those odd people who prefer stock watching to Easter Egg hunts!

Wild swings in March

March 2026 will claim its place in market history as a hugely volatile month. The main US index swung from a low of around 6,300 to a high of 6,900. A 10% swing in a calendar month will give the most experienced of investors at least a mild palpitation.

My personal source of both pain and joy, South Korea’s KOSPI, went from a high of around 6,300 in February to 5,050 on March 30th. Fookin’ Nora! Or should I say 죽을래? That’s nearly a 20% fall. Japan’s Nikkei was also hit, experiencing a significant single-day loss of over 5% on March 9, driven by Middle East tensions spiking oil prices. For comparison, it fell by nearly 10% in one day during the financial crisis of 2008.

These are anxious times on many fronts. Despite welcome market rebounds earlier this week as analysts saw a path to de-escalation, on Wednesday night in the US, Trump’s address to the nation threatened to hit Iran “extremely hard” over the next two to three weeks. Markets reacted again, with European indices lower as I write on Thursday lunchtime, and oil prices up yet again to $108.

This path of continued seesaws will certainly linger on into April. I’m not sure even the lunatics in charge of the asylum know what’s next, so there is little point in us trying to read the tea leaves.

Having kittens…

An old uni pal messaged me this week, having kittens because her ISA and Pensions had collectively dropped about £40,000 since the war began. These are her life savings, and she was ready to bail. She got a stern talking to. If she sells now, she locks in a £40,000 loss. Game over. If she toughs it out, things will recover. She doesn’t need all that money in the next 12 months, so there is absolutely no point in selling. I promise.

One number we do have some control over is how much tax we pay. As we head into the last weekend of this tax year, we have the latest for you on cash ISA rates, an update on gold and ISA/pension tips which can save you tax.

And chocolate coins

In 1213, King John kicked off Easter on Maundy Thursday by distributing coins to the poor. In 1662, Charles II minted special Maundy Money coins for the occasion. Pub trivia fiends might like to know that one was pleasingly called a ‘groat’ and was worth 4 pence. And this tradition – fun fact – is where giving chocolate coins at Easter came from.

As I leave you awaiting your delivery of coins from the Royal Family, could I ask for a favour? We want to know how you guys are feeling about markets and what you’re planning. We’ve 3 questions for you and – in turn – we invite you to leave us your questions, and we’ll do our best to answer as many as we can over the coming weeks.

Wishing you and your families a very happy and restful Easter.

Holly