Iran War Unwinds a Year of Investor Bets on Trump’s Tariffs
A plume of smoke rises after a strike on the Iranian capital Tehran, on March 3.
Photographer: Atta Kenare/AFP/Getty Images
A year since President Donald Trump tripped up global financial markets with his so-called Liberation Day tariffs, the investment playbook his move inspired has been firmly put on the shelf.
That’s because the Iran war — now in its second month — has unleashed an unprecedented oil shock, forcing a swift unwinding of popular, crowded trades that had come to define markets in the months since last April.