Iran Tensions Spike Oil, Global Stocks Tumble, Fed on Watch

1. Geopolitical tensions have sharply escalated after the U.S. attacked Iranian facilities and issued an ultimatum, causing crude oil prices to surge by over $5 per barrel.
2. Fed official Williams stated that while the U.S. economy is resilient, the war in Iran will drive up inflation, but the current monetary policy is well-positioned to wait and see.
3. Global stock markets, including the S&P 500 and European indices, have tumbled while the Dollar/Yen has broken the 160 level in response to rising geopolitical tensions and inflation fears.