Iran’s Supreme Leader bars uranium removal, lifting oil prices and pressuring equities amid heightened geopolitical risks.
Major US stock indices opened lower as Iran’s Supreme Leader forbade uranium removal, stoking geopolitical tensions and weighing on risk sentiment. WTI crude oil erased yesterday’s losses, surging on fears of a prolonged US-Iran stalemate and potential disruptions in the Strait of Hormuz.
The decline follows strong NVDA earnings after the close, though the stock failed to sustain gains, reflecting investor focus on macro risks over corporate results. Fed minutes released yesterday signaled an end to its easing bias, adding to market uncertainty as financial conditions tighten.
Fund manager surveys show record equity allocations in May, with only 4% anticipating a hard landing, suggesting optimism may be overpriced. Inflation concerns and Fed policy shifts remain key tail risks for markets.