A 1,200-Point Warning Shot Wall Street tried to steady itself Tuesday after a brutal selloff triggered by Iran’s reported move to close the Strait of Hormuz. The Dow ultimately finished down 403 points, but that modest loss masks the real story: earlier in the session, it was down more than 1,200. That kind of intraday volatility is not normal market noise. It’s a stress signal. The Strait of Hormuz handles roughly 20% of global oil supply. Any disruption—even temporary—immediately raises the specter of higher energy prices, tighter global supply, and a fresh inflation wave. Brent crude jumped above $77 per barrel. Gasoline prices spiked to $3.11 per gallon nationally, according to AAA. Markets are forward-looking. They’re not reacting to what…
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