Stocks Retreat as Oil Prices Surge and Inflation Accelerates The sudden surge in oil prices has sent shockwaves through global markets, causing stocks to plummet and bond yields to rise.
The tensions between the US and Iran have become a major concern for investors, with President Trump's comments on the Strait of Hormuz only adding fuel to the fire.
On Tuesday, Trump's remarks cast doubt over the ceasefire with Iran and prolonged the closure of the strait.