Stocks Fall as US-Iran Strikes Spur Rally in Oil

Geopolitical risks following US strikes on Iran have caused stocks and bonds to decline while driving oil prices higher. This surge in crude raises concerns regarding inflationary pressures, potentially prompting the Federal Reserve to increase interest rates. Despite the market volatility and a hawkish Fed, Bitcoin remains steady above $78,000, positioning itself for its strongest monthly performance since 2017. Wells Fargo's Tracie McMillion notes a constructive backdrop for commodities and stocks amidst these tensions.