Breaking! The Strait of Hormuz is closed + rumors of US-Iran nuclear strikes, global markets are crashing across the board
The afternoon market was directly hammered by the news, with US stocks leading a 1% retreat, and the crypto market following suit, with panic sentiment at an all-time high.
The Iranian Revolutionary Guard announced: The Strait of Hormuz has been closed, cutting off 20% of global oil transportation. According to Global Network, the White House released related videos, and the market is wildly speculating that the US plans to launch a tactical nuclear strike against Iran, casting a shadow of war over the world.
Oil prices surged sharply, inflation expectations skyrocketed, the Federal Reserve's interest rate cut expectations were completely dashed, and the strengthening dollar suppressed all risk assets. US tech stocks plummeted, with the Nasdaq leading the decline; the crypto market fared worse, with Bitcoin and ETH both diving, and a wave of contract liquidations reappeared.
⚠️ Short-term geopolitical risks dominate everything, with safe-haven funds flooding into gold and the dollar, and the narrative of crypto as “digital gold” temporarily losing effectiveness.