Market Highlights

The prospect that the Iran war will reintensify after the failure of peace talks threatens to spark fresh volatility across global markets, after a week that saw a fragile ceasefire drive stocks up and oil down by the most this year. After the US and Iran were unable to reach a deal in negotiations over the weekend, President Donald Trump said the US will blockade the Strait of Hormuz. He posted on social media that “Any Iranian who firesat us, or at peaceful vessels, will be BLOWN TO HELL!” Iran, meanwhile, said it wouldn’t allow the US to blockade the waterway, which carried about a fifthof global oil and liquefied natural gas before the conflict. Oil surged while stocks and bonds fell after President Donald Trump ordered a blockade of the Strait of Hormuz, heightening tensions with Iran following the collapse of weekend peace talks.