Global Stocks Rally Masks Angst Over Impact of Oil Prices
A trader on the floor of the New York Stock Exchange in New York.
Photographer: Michael Nagle/BloombergA worldwide stock surge is masking deeper anxiety over the global economic outlook that may cut the relief rally short.
Optimism that the conflict may be over soon after President Donald Trump said he foresaw the US ending the war with Iran within two to three weeks has given the market a much-needed boost. But investors are increasingly sketching out the impact of higher-for-longer oil prices, on expectations that the disruption to shipping through the Strait of Hormuz is a potential sustained drag on fundamentals.