As Trump halts his Hormuz mission after just one day, Mojtaba’s aide mocks a “scared” U.S. Navy and reminds Washington of its 1980 failure in Iran. Yet on the home front Trump cheers record Wall Street highs, even as petrol prices, inflation fears and looming midterms threaten his political standing.
Europe is energy-dependent on imports, so European stock markets are lagging behind other global stock markets, which have recovered to new record levels since the start of the war, driven by optimism about artificial intelligence.