Stock data is displayed on screen as traders work on the floor of the New York Stock Exchange (NYSE) at the opening of the markets on June 13, 2025, in New York. (Credit: Angela Weiss/AFP)
Six days into the Israel-Iran war, global economic shock remained contained, for now.U.S. involvement could quickly upend markets, as tensions rise over the Strait of Hormuz. Six days after the unprecedented outbreak of war between Israel and Iran, the feared economic shock — driven by a potential spike in oil prices and its inflationary consequences — remained contained for now. Still, early cracks are showing: a rise in crude prices, jitters on financial markets, disruptions to air traffic across parts of the Near and Middle East, and a flight by some investors toward safe-haven assets such as gold, which continues to trade at historically high levels.But the risk of broader disruption looms and could materialize quickly if the United States becomes directly involved in the conflict, a possibility being taken “very seriously” by...
Six days into the Israel-Iran war, global economic shock remained contained, for now.U.S. involvement could quickly upend markets, as tensions rise over the Strait of Hormuz. Six days after the unprecedented outbreak of war between Israel and Iran, the feared economic shock — driven by a potential spike in oil prices and its inflationary consequences — remained contained for now. Still, early cracks are showing: a rise in crude prices, jitters on financial markets, disruptions to air traffic across parts of the Near and Middle East, and a flight by some investors toward safe-haven assets such as gold, which continues to trade at historically high levels.But the risk of broader disruption looms and could materialize quickly if the United States becomes directly involved in the conflict, a possibility being taken “very seriously”...