President Donald Trump announced the U.S. will reinstate its blockade of Iranian shipping in the Gulf and collect a 20% fee on cargo traversing the Strait of Hormuz, causing market volatility in Asia.
Market Reaction
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4%, while Japan’s Nikkei 225 was up 0.2%. Brent crude futures climbed 2.6% to $85.50 a barrel, their highest since mid-June.
Markets were also affected by Federal Reserve Governor Christopher Waller’s comments on potential interest rate hikes if inflation continues above the 2% target.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
