President Trump labeled NATO as “cowards” on Friday, criticizing the alliance for refusing to back the U.S. against Iran and not assisting with reopening the Strait of Hormuz.
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Trade QQQ with leverage“Now that fight is Militarily WON, with very little danger for them, they complain about the high oil prices they are forced to pay, but don’t want to help open the Strait of Hormuz, a simple military maneuver that is the single reason for the high oil prices,” Trump said in a Truth Social post.
Third Week of Iran Conflict Hits Markets and Energy
Both the U.S. and Iran have shown little indication of deescalating tensions as the war stretches into its third week. Meanwhile, traffic through the strait remains at a virtual standstill as oil prices continue to climb from supply disruptions.
The war has sent shockwaves across the stock market, with the S&P 500 (SPX) down by nearly 5% since the start of the conflict on February 28. Over that same period, gas prices have risen by 31% to $3.91 per gallon.