Trump says U.S. is hitting Iranian targets near the Strait of Hormuz

U.S. confirmation of strikes on Iranian targets near the Strait of Hormuz elevates immediate geopolitical and supply-chain risk around a critical oil chokepoint. Markets typically reprice energy and shipping risk premia quickly under escalation scenarios, tightening financial conditions and weighing on risk assets. The most direct near-term transmission is via crude oil benchmarks, with knock-on effects to inflation expectations and rates-sensitive assets.