Following days of speculation, Israel attacked Iran, killing three of Iran’s most powerful leaders and bombing multiple nuclear, missile and military targets. Oil prices shot up over 10%, bolstering inflationary fears and neutralizing Trump’s argument for a Fed rate cut. The last time CL broke out of its triangle, stocks fell nearly 5%.
Futures initially fell nearly 2% overnight, but have since rebounded to a 1% loss. Though the State Department initially disavowed any knowledge of or assistance in the planning of the attack, Trump’s latest comments have called that into question – increasing the odds that the US will be drawn into a kinetic conflict.
“Iran should have listened to me when I said — you know, I gave them, I don’t know if you know but I gave them a 60-day warning and today is day 61,” he told CNN. “They should now come to the table to make a deal before it’s too late.”
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