Breaking: Iranian parliament: The strait of hormuz will not open, we have not held any negotiations, and...

• Iranian parliament declares Strait of Hormuz closure permanent, rejecting negotiations.

• Bad for Stock Market:

  • Global oil supply shock.
  • Crude oil prices surge.
  • Inflationary pressures intensify.
  • Economic growth forecasts downgrade sharply.
  • Corporate earnings outlook deteriorates.
  • Increased geopolitical risk premium.
  • Investor flight to safety.

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