By Jennifer Nash

The Philly Fed’s Manufacturing Business Outlook Survey is a monthly survey of about 250 manufacturers in the Third Federal Reserve District, which covers eastern Pennsylvania, southern New Jersey, and Delaware. Participants of the survey

Foreign portfolio investors (FPIs) continued their selling spree in Indian equities, pulling out Rs 52,703 crore in the fortnight ended March 15, underscoring a sharp risk-off sentiment amid global uncertainties and rising macro headwinds. The worst sufferer was the financial sector, which saw Rs 31,831 crore worth of FII exodus in this period.

The selling has been broad-based across sectors, with rate-sensitive and heavyweight segments witnessing the sharpest outflows, while only a handful of sectors managed to attract selective buying.

The rate-sensitive automotive sector, whose prospects are closely tied to energy and metal prices, is the next in line with outflows of Rs 4,807 crore in the period between March 1 and March 15.

Telecommunications, construction and oil & gas witnessed outflows of Rs 3,856 crore, Rs 2,975 crore and Rs 2,932 crore, respectively.

Defensive and consumption-oriented pockets were not spared either, with healthcare recording a sell-off worth Rs 2,436 crore, followed by Rs 2,403 crore and Rs 2,133 crore in FMCG and realty, respectively.

Additionally, sectors such as consumer durables, construction materials, services and IT also saw notable outflows, indicating a broad-based withdrawal of foreign capital. Even smaller segments like media, utilities and textiles witnessed marginal selling.

Read more: Nifty Bank logs 3rd-worst March fall since the global financial crisis. HDFC Bank, SBI among top culprits

Sectoral inflows

The scale of outflows from financials highlights their heavy FPI ownership and sensitivity to global risk aversion, making them the primary target during periods of uncertainty.

Amid the widespread sell-off, select sectors managed to attract FPI inflows, led by capital goods, which cornered investments to the tune of Rs 3,897 crore. The metals & mining vertical received Rs 876 crore of flows. The next in line were power, consumer services and chemicals, which received Rs 602 crore, Rs 531 crore and Rs 225 crore, respectively.

The buying in capital goods and metals suggests continued interest in domestic capex and infrastructure themes, even as broader market sentiment remains weak.

After a February pause, FII continued their selling trend in March, with month-to-date equity outflows at Rs 88,180 crore. They have already offloaded domestic shares worth Rs 1,01,527 crore in 2026. In February, inflows of Rs 22,615 crore were reported, along with a sell-off of Rs 35,962 crore in January.

Markets in March

Seasonally a strong month, March this time was hit by the Iran-Israel war that started on February 28. The impact is evident, with the Nifty down by over 8% or 2,064 points in the last three weeks.

As energy prices spike, global markets now fear inflation returning. Brent, which is up by over 40% this year, is hovering near the $109 a barrel mark and may surge to $150-200 a barrel if the war continues and the Strait of Hormuz remains shut.

The March sell-off has been broad-based, dragging down most sectoral indices. But financials have turned out to be the biggest underperformer. The Nifty PSU Bank index has been the worst hit, tumbling 14.36%, followed by the Nifty Auto index and Nifty Bank, which have declined 12% each.

The Nifty Bank index is headed for its third-worst March performance in two decades, underscoring the intensity of the ongoing market correction, with banking stocks emerging as one of the biggest casualties. As of March 19, the index was down around 12% for the month, placing it among the steepest declines for the banking gauge, surpassed only by the pandemic-driven crash of 2020 (-34%) and the global financial crisis period in 2008 (-23%).

Defensive and consumption-oriented segments have also come under pressure, with the Nifty FMCG, Nifty Metals and Nifty Consumer indices declining around 8% each. Meanwhile, the Nifty IT and Nifty Media indices have slipped 7%, while relatively resilient pockets such as the Nifty Healthcare, Nifty Pharma and Nifty India Defence have contained losses to 4-5%, indicating some stability amid the broader risk-off mood.

FII/FPI outlook

“The weakness in global equity markets following the war in West Asia, the steady depreciation of the rupee and concerns surrounding the impact of high crude prices on India’s growth and corporate earnings contributed to the concern of FPIs,” Dr V K Vijayakumar, Chief Investment Strategist, Geojit Investments, said.

The poor market returns from India vis-à-vis other markets (both developed and emerging) during the last eighteen months is the principal reason for FPIs’ indifference towards India, he said, adding that if their sustained selling strategy is to change, there should be clear indications of earnings recovery in India.

The Geojit analyst said FPIs now regard South Korea, Taiwan and China as better markets to invest in since they are relatively cheaper than India even after the recent correction. “Also, the corporate earnings prospects in these markets appear better than that of India. Therefore, further selling by FPIs in India is likely in the short term. In the present uncertain context, this will take time,” the analyst said.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

As geopolitical tensions intensify and global markets grapple with rising oil prices, credit concerns, and technological disruption, investors are increasingly seeking stability in an uncertain environment.

Nikhil Advani, Managing Director, International Business at LGT Wealth India, believes this is a time to focus on resilience rather than chase short-term returns.

In an interaction with Kshitij Anand, he underscores the importance of global diversification and strategic rebalancing toward defensive sectors such as utilities, healthcare, and dividend-yielding stocks.

He also highlights the need for phased investing and exposure to long-term themes like infrastructure and AI, as investors navigate a rapidly evolving global landscape. Edited excerpts:

Q) Thanks for taking the time out. Geopolitical tensions seem to be escalating across regions. How should global investors interpret these developments from a macro and market perspective?

A) These are testing times for investors. Markets are facing a new war, AI stress, and credit cracks all at once. The US-Israel conflict with Iran has resulted in a sharp surge in oil prices, with Brent crude frequently testing the $100-$120 range.
In many ways, the energy market is the one that matters most right now, as the price of oil is baked into the cost of almost everything. As per a Bloomberg report, there is US$8.27 trillion lying in US money market funds, an all-time high.
So clearly, investors are being cautious in the current environment. However, a lot of this capital will flow back into global financial assets when there are signs of easing in geopolitical tensions.

Q) Historically, markets tend to react sharply to geopolitical shocks but recover quickly. Is it time to diversify globally and which markets are looking attractive?

A) We at LGT have always encouraged clients to diversify globally to reduce concentration risk to a single economy and currency. It is impossible to time the markets, so our approach with clients has been to build resilient multi-asset global portfolios, as diversification can reduce volatility without necessarily compromising returns.

Currently, we see a stronger need to diversify traditional long-only equity exposure with less correlated strategies such as long-short and market-neutral. High-quality dividend yield strategies focused on companies with strong balance sheets and sustainable cash flows also remain a useful way to balance valuation risk and income needs.

Keeping inflation in mind, infrastructure is a core theme for us in 2026, with a focus on investments in global data centres, renewables, power grids, and storage facilities. Our approach to investing in the current environment is to look at quality assets and deploy capital in a phased manner.

Q) How could rising crude oil prices and commodity volatility reshape the global investment landscape?

A) The effective closure of the Strait of Hormuz, which controls over 20% of global oil and natural gas supplies, is causing the most significant disruption to energy supply since the 1970s.

Even the record-breaking 400-million-barrel release by the International Energy Agency (IEA) can only cover the supply gap for a few weeks if the strait remains closed.

Countries in Europe and Asia have opened talks with Iran to negotiate deals to guarantee safe passage for their ships. As a result, the global landscape is shifting from globalisation to fragmentation. The winners of the next five years will be the nations and companies that can secure and control their own supply chains.

Q) What role does rebalancing play during volatile periods when asset prices move sharply due to geopolitical shocks?

A) Given the uncertain outlook, we advocate rebalancing toward defensive exposures such as utilities, healthcare, and quality dividend stocks, while retaining long-term exposure to resilient secular growth themes including AI-linked memory, semiconductor equipment, and power infrastructure. In 2026, we are not just looking for growth; we are looking for “resilient growth.”

Q) How can investors use ETFs to achieve better asset allocation across equities, debt, gold, and international markets?

A) Globally, mutual funds continue to see net outflows, while ETFs draw strong inflows, underscoring the structural shift toward passive and broad market exposures.

Year after year, statistics show that the vast majority of active managers fail to outperform their benchmarks, especially over five- and ten-year horizons. ETFs allow investors to capture market returns reliably across asset classes, at a fraction of the cost.

Q) Which global ETF themes such as technology, semiconductors, or global indices do you believe investors should track in the current environment?

A) In my opinion, one of the best ways to access the global equity market is via an ETF that tracks the MSCI All-Country World Index. This index has a 65% exposure to the US, and the balance 35% exposure to developed and emerging markets in Asia and Europe, across sectors such as technology, healthcare, and financials. It also gives currency diversification as a third of the investment is in non-US dollar securities.

It is a benchmark for equity long-only fund managers and gives investors access to the global equity market in a single investment. To ensure that the index remains a current reflection of the market, MSCI undertakes a rebalancing exercise by doing a disciplined review on a regular basis to add or remove constituents.

Q) Ideally, what percentage of capital should be diversified globally for someone who is 30-40 years old? And if someone wants to deploy fresh capital, what would you advise?

A) Someone who is between the age of 30 and 40 should think about long-term compounding and inflation protection. Investments should be made keeping in mind global megatrends over the next ten years.

Most of the innovation in artificial intelligence, healthcare, and the space economy is happening outside India, so investors should target having an exposure of 20%-25% globally over time.

Diversification beyond traditional asset classes with an allocation to private markets and infrastructure assets should also be considered. There should be some exposure to gold as a hedge against fiscal expansion and confidence shocks.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

In February 2026, Panama seized two Canal ports from a Hong Kong firm, amid rising U.S.-China trade tensions, spotlighting China’s growing global port investments and geopolitical implications.

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Key Points

• In February 2026, Panama took control of two Canal ports from a Hong Kong firm amid escalating U.S.-China tensions over global trade and Chinese port investments.
• This decision followed a legal battle, as Panama’s high court voided the company’s contracts after 20 years of operation.
• China’s port investments have sparked debate on their strategic significance, revealing patterns in global trade routes that may impact the world economy.

In February 2026, the Panamanian government asserted its sovereignty over two ports in the Panama Canal previously managed by a Hong Kong conglomerate, ending a two-decade-long relationship. This takeover culminated from escalating U.S.-China tensions concerning international trade, particularly surrounding the influence of Chinese investments in global ports. The legal dispute reached a critical point when Panama’s high court annulled the company’s contracts, prompting government action to reassert control over these vital maritime assets.

This incident is emblematic of broader geopolitical rivalries, reflecting a complex interplay between U.S. and Chinese interests in critical trade routes, especially the strategically significant Panama Canal. The growing presence of Chinese firms in global port operations—over 90 terminals worldwide—has invited scrutiny and concern from Washington, particularly during the Trump administration, which took a strong stance against perceived foreign encroachments on American interests.

Central to this debate is whether China’s extensive port investments represent purely commercial endeavors or align with broader geopolitical ambitions. This question transcends mere speculation, as the ramifications of disrupted shipping lanes could have significant implications for the global economy. Notably, disruptions could lead to staggering economic losses, emphasizing the importance of understanding the strategic motivations underlying these investments.

In a recent study, researchers focused on identifying patterns of Chinese port investments across 133 coastal nations, creating the first global database of ports affiliated with China. Their analysis aimed to discern what factors determine why some countries are receptive to Chinese port development while others are not. The findings contribute to a nuanced understanding of geopolitical dynamics and the clustering of Chinese port investments near some of the world’s most critical trade routes.

This situation highlights the intricate relationship between national security, global trade, and maritime infrastructure, as nations grapple with the implications of foreign investments on their sovereignty and economic stability.

Read the original article : Far from random, China’s global port network is clustering near the world’s riskiest trade routes

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HONOLULU — The family of action icon and martial arts legend Chuck Norris has not publicly disclosed an official cause of death, opting for privacy following his sudden passing on March 19, 2026, at age 86 in Kauai, Hawaii. Norris died the day after being hospitalized for an unspecified medical emergency, according to multiple reports and family statements released Friday.

Norris’ family confirmed the news in a heartfelt Instagram post on March 20, describing it as a “sudden passing” and emphasizing that he was “surrounded by his family and was at peace.” The statement read in part: “It is with heavy hearts that our family shares the sudden passing of our beloved Chuck Norris yesterday morning. While we would like to keep the circumstances private, please know that he was surrounded by his family and was at peace.”

Sources close to the situation, cited by TMZ and other outlets, reported that Norris was rushed to a hospital in Kauai after a medical emergency occurred within the previous 24 hours. Prior to the incident, he had been training and was described as in “good spirits” and “jovial” mood, even cracking jokes, according to a source who spoke with him shortly before the hospitalization. The abrupt nature of the health scare shocked those around him, as Norris had recently celebrated his 86th birthday on March 10 with a social media post showing him sparring and declaring he was in “good health” and still “leveling up.”

No autopsy results or detailed medical information has been released as of March 21, and the family has requested discretion regarding the specifics of his final moments. Reports from outlets including Variety, The New York Times, BBC and Fox News consistently note that the cause remains undisclosed, with the emphasis on Norris’ peaceful departure amid loved ones rather than clinical details.

The timing — just days after his birthday and active training — fueled widespread speculation and an immediate wave of tributes online. Fans flooded social media with memes referencing the long-running “Chuck Norris Facts” jokes that portrayed him as invincible, while others shared memories of his films and television work. Norris’ son Dakota posted a personal remembrance, calling him “the greatest father God could have given me” and highlighting his faith, discipline and kindness.

Norris, born Carlos Ray Norris on March 10, 1940, in Ryan, Oklahoma, built a career that transcended Hollywood. A former U.S. Air Force serviceman, he became a world champion in karate and founded his own martial arts system, Chun Kuk Do. His screen debut as the villain in Bruce Lee’s “Way of the Dragon” (1972) featured one of cinema’s most famous fight scenes in the Roman Colosseum. He went on to star in 1980s action staples like “Missing in Action,” “The Delta Force,” “Invasion U.S.A.” and “Code of Silence,” often playing patriotic, no-nonsense heroes.

His longest-running role came as Cordell Walker in “Walker, Texas Ranger” (1993-2001), a series that blended martial arts with moral storytelling and ran for eight seasons. Later appearances included “The Expendables 2” (2012), and he maintained an active presence through fitness advocacy, his non-profit Kickstart Kids and books on faith and philosophy.

Despite internet hoaxes over the years falsely claiming his death, this confirmation from family and major news sources marked the real end of an era. Norris had stepped back from major acting but remained fit and visible on social media, sharing workout videos and inspirational content into his mid-80s. His final post before the emergency celebrated his birthday with training footage, underscoring his lifelong commitment to physical discipline.

Tributes continued pouring in from Hollywood figures, fellow martial artists and political leaders who admired his values. Co-stars from “Walker, Texas Ranger” and modern action stars recalled his influence, while fans noted how his tough-guy image inspired resilience and humor in popular culture.

Funeral arrangements have not been announced, with the family prioritizing privacy during mourning. A public memorial may follow, potentially drawing crowds to honor the man whose real-life strength — rooted in faith, family and perseverance — outshone even the myths.

As the world reflects on Norris’ legacy, the lack of a detailed cause of death underscores the family’s desire to focus on his life rather than his final hours. In an age of constant information, their choice for privacy respects the quiet dignity with which Norris often lived off-screen.