On March 20, European stock markets experienced an early spike but ultimately reversed to close lower. This downturn was primarily attributed to rising prices of oil and gas, which raised investor concerns and added to the volatility of the markets. Notably, fears surrounding potential escalations in the conflict in Iran weighed heavily on market sentiments, as traders tried to gauge the implications this situation might hold for global energy supplies.

In addition to geopolitical concerns, this trading day coincided with a specific period referred to as the "witching hour," where futures and options for indices and stocks expire simultaneously, often causing increased volatility. This factor, known as the "day of the four witches," is infamous in trading circles for its potential to exacerbate market fluctuations, which was observed on this day as well, leading to further uncertainty among investors.

The report also mentions developments in the corporate sector, with Banco Bpm's minority shareholders nominating a list for the company’s board of directors. Key figures in this nomination include Giampiero Massolo, Vincenzo Delle Femmine, and Karina Audrey Litvack, highlighting the strategic movements within the financial institutions amidst a tumultuous market. The combined effect of rising energy prices and corporate shifts suggests a challenging environment for investors looking for stability.