# Iran war keeps US inflation high, threatens Wall Street rally

2026-08-09T17:46:45+00:00 | World & Diplomacy | Indian Opinion Desk

Corroboration: 1 independent outlet

US stocks edged lower on Monday as hopes faded for an imminent deal to reopen the Strait of Hormuz, Reuters reported. The Dow fell 0.28%, the S&P 500 lost 0.09%, and the Nasdaq dropped 0.39%. Intel shares slid 3% after announcing a $15 billion share sale. US crude oil jumped about 5% to settle at $82.13 a barrel. Reuters reports that the Iran war has pushed energy prices sharply higher. Oil rose more than 70% within weeks of the Strait shutdown, which stopped about 20 million barrels of petroleum daily, roughly one-fifth of global demand. Hindustan Times reports US 12-month inflation jumped from 2.4% to 4.2% between February and May. Core PCE inflation remains elevated at 3.4%, signalling the problem is spreading beyond energy.

## Coverage

- hindustantimes.com <https://www.hindustantimes.com/business/trumpflation-could-threaten-wall-street-s-bull-market-how-the-iran-war-is-keeping-inflation-high-101786290633938.html>
- livemint.com <https://www.livemint.com/market/wall-street-eases-as-hopes-for-imminent-hormuz-deal-fade-intel-drops-11786389146085.html>

Tags: Federal Reserve, Iran war, Oil prices, Strait of Hormuz, US inflation, Wall Street
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