In the second update this week, in our busy post-MWC publishing schedule, the decline seen across all three segments is not unexpected, given the US-Israeli strikes against Iran. With world leaders turning to release their paltry oil reserves, and traffic through the Strait of Hormuz still locked down, rising oil prices are sending investors into a panic. As such, seeing the Vendors segment fall by just -0.10% is something of a relief, compared to the -4.04% recorded by the Operators and the -2.26% in the Indexes segment. With 15 positives in the Vendors and 14 for the Operators, APAC dives have dragged the Operators down much further.