Markets are being shaped by the economic cost of the Iran war. As Brent crude jumps to $95 a barrel, inflation and interest-rate hikes return to the forefront, triggering a selloff across stocks, bonds, and gold at the start of the month.

Today’s Big Take explores how foreign investors are dodging US tax by shifting billions between ETFs. The surge in oil prices is reviving concerns over persistent inflation, prompting investors to reassess their portfolios amid rising rate expectations.

The selloff reflects broader market anxiety as geopolitical tensions continue to weigh on sentiment. With energy costs climbing and monetary tightening likely, traders are bracing for increased volatility across asset classes.

Bloomberg Markets reports that the interplay between energy prices and Fed policy remains the dominant driver of market direction, overshadowing corporate earnings and economic data releases.