US stocks reverse record highs as Iran nerves bite
The US stocks have reversed their record highs as tensions with Iran continue to escalate. Trump’s patience on Iran is wearing thin, causing market caution.
The PBOC has set the USD/CNY reference rate for today at 6.8415, higher than the estimated 6.7976. Japan’s wholesale prices have surged 4.9% due to the Iran war driving import cost spikes.
The Fed’s Barr has warned that shrinking the balance sheet via liquidity cuts risks stability. Trump’s ethics filing has revealed $220m in trades across major US stocks.
The US House has tied on the Iran war vote, testing Republican unity on war costs and gas prices.