Quick Read – Trump threatened to physically seize Kharg Island, Iran’s primary oil export terminal, while QQQ trades down 7% on the week. – Consumer sentiment already sits below the 60 recessionary threshold, and a June CPI print accelerated by oil could force an impossible Fed…
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On Thursday morning, President Trump posted on Truth Social: “At some point in the not too distant future, we will be taking Kharg Island, and other oil infrastructure points.” Kharg Island is the terminal that handles the overwhelming majority of Iran’s crude exports. A US move to seize it would amount to the physical capture of the nation’s primary revenue organ. Treasury Secretary Scott Bessent followed up: “The Iranian regime will lose the zero-sum game it is playing.
Any damage it inflicts on our allies in the Gulf will be paid for with funds extracted from Iranian accounts.” The April ceasefire is, for practical purposes, over. Markets are not panicking. The Nasdaq 100 ETF, Invesco QQQ Trust (NASDAQ:QQQ), is up about 1.8% intraday, though it sits down 6.79% on the week and is still up 12.92% year to date.