Trump ends the Iran ceasefire, sending oil up and stocks into a ditch
Just when the global economy was wobbling like a Jello mold on a washing machine, someone decided to throw a firecracker into the mix.
Trump officially declared the ceasefire with Iran dead. Naturally, the global markets reacted with their usual calm and grace—which is to say, they immediately lost their minds.
Crude oil prices went on a vertical hike, while stock charts started looking like a black-diamond ski slope. It is a fantastic time to be selling oil, and a terrible time to be looking at retirement accounts.
The global economy was already walking on eggshells with inflation and general vibes of doom. Now, it gets to juggle geopolitical fireworks.
The only thing more volatile than global oil prices is the foreign policy that controls them.
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