US stocks slide after Trump's increased Iran military action announcement
Business
US stocks slid on Wednesday after President Trump announced increased military action against Iran, following attacks on ships in the Strait of Hormuz.
Nearly 400 S&P 500 companies saw their shares fall, and bonds also lost ground, though chipmakers stabilized after a selloff.
Oil tops $80, limited US impact
Oil prices shot above $80 a barrel, raising worries about inflation and the chance of a Fed interest rate hike by October.
Even Bitcoin took a hit amid all the market turbulence.
Still, analysts like Angelo Kourkafas say neither side wants a drawn-out conflict, so unless oil prices stay high for long, most experts don't expect major damage to the US economy or company profits.