Things just keep getting Worse for the American President….
And?
The Rest of us…..
His War is NOT gonna help the American Economy that he’s been try trying to sell as ‘Great’….
A global market sell-off intensified on Tuesday, as Iran expanded its retaliatory attacks around the Persian Gulf region, and American and Israeli officials signaled that strikes on Iran could continue for weeks.
Stocks fell as inflation worries, stemming from a sharp rise in energy prices, mounted. The S&P 500 fell roughly 2 percent, dragging the index negative for the year. The Dow Jones Industrial Average and Nasdaq Composite index also both fell roughly 2 percent. The Russell 2000 index of smaller companies more exposed to the ebb and flow of the economy, fell almost 4 percent.
Disruption to shipping on the Strait of Hormuz, the crucial waterway on Iran’s southern border through which a large share of the world’s oil and gas passes, has upended energy markets. Oil prices continued to surge on Tuesday, with Brent crude, the global benchmark, rising more than 7 percent, pushing past $80 a barrel, its highest level since mid-2024. The price of U.S. gasoline jumped overnight, up 11 cents to $3.10 per gallon, according to AAA.
The sharp rise in energy prices appeared to be driving investors’ concerns that the war could stoke inflation. When the conflict began, investors began raising inflation expectations and dialed back the number of times they expected the Federal Reserve to cut interest rates this year — something the central bank is likely to do only if the inflation outlook is more stable. With Iran’s retaliatory strikes widening on Tuesday and the Trump administration warning that the war could be prolonged, that outlook has become even more uncertain, analysts said….
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Should the conflict drag on, however, the combination of higher energy prices, supply disruption and a general loss of confidence would shake the global economy as it was “still digesting the inflationary and growth consequences of the tariff shock,” the analysts at ING wrote.
The analysts called it “the mother of all bad timings.”
As inflation expectations rose, so too did the government bond yields that underpin interest rates for consumers and companies around the world…..
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Republicans dismiss energy cost concerns after Iran strikes
When the U.S. and Israel launched a wave of strikes on Iran over the weekend, some Democrats warned about the impact on energy costs. Now that those predictions have come to pass with an uptick in global prices for natural gas and crude oil, Democrats are pouncing — and Republicans are pushing back.
Senate Majority Leader John Thune (R-S.D.) started to set the tone for the GOP’s messaging Monday afternoon, saying he expected prices to return to prewar levels soon….
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But Capito also conceded that voters could get frustrated if the war continues and their wallets start to feel the pinch.
“When they feel prices at the pump,” Capito said, “they don’t like it.”
It could become a difficult balancing act for the GOP in an election year that’s becoming all about affordability — especially as President Donald Trump warns of a conflict that could take weeks to resolve.
Senate Minority Leader Chuck Schumer (D-N.Y.), during a floor speech Monday, said Americans “don’t want a war that raises the price of gas at the pump.”
“Trump is raising prices at home while razing countries abroad,” Sen. Ed Markey (D-Mass.) posted on X. “In addition to untold casualties, Trump’s illegal war with Iran will lead to skyrocketing oil prices, and we know the Big Oil vultures are already circulating.”…
Gas prices UP .20 Cents a Gallon around my way already….
Update….
The Market IS recovering…..
Gas prices ain’t….