Persian Gulf
INT'L MOD
However bad the economic position is for the US, the economic impact for Iran is a million times worse, and this will only show in time. For now, the war atmosphere is hiding it because when you are attacked you have bigger problems, but eventually when there is peace, there will be an economic reckoning, so any economic concessions from a peace deal will need to be massive to help Iran.Not sure though I expect many of the professionals delved into some of the same, or better, sources that I do and came to the same conclusions. FWIW, the biggest hit was in the tech sector.
Alternatively, it is the weekend. The traders were looking for some quick profits in order to have cash for the weekend.
Yet, when I look at the beige book and knowing that fuel stocks, especially gasoline, have been in a steady decline since Nov., that is concerning.
Ironically, this might be why Iranian leaders do not fear a return to war.






