Global markets | Dollar and oil rise, stocks slide as US-Iran peace talks collapse
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The US and Iran failed to reach a peace deal over the weekend, leading to a rise in the dollar and oil prices, while stocks declined. The US has announced a full naval blockade of the Strait of Hormuz and threatened to retaliate against Iranian resistance.
The US and Iran failed to strike a peace deal during talks in Pakistan. The dollar rose against major peers in early trading, lifting demand for safe haven assets. The US will begin a full naval blockade of the Strait of Hormuz. Oil prices also increased due to the failed talks. The collapse of the talks is likely to disappoint investors who had added exposure to risk assets last week.
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