WS #10354

The dominant signal in this window is the escalation of the Strait of Hormuz crisis, with Iran announcing the closure of the waterway and its negotiating team walking out of US talks in Switzerland after Trump's threats. This is corroborated by multiple sources including Al Jazeera, a Bluesky post citing Iranian state TV, and a Seeking Alpha report. The walkout and closure significantly increase the probability of a sustained oil supply disruption, which is bullish for energy stocks and bearish for airlines and consumer sectors. Separately, UK political uncertainty continues with Starmer considering his future, but this has limited direct US market impact. The narrative arc is ESCALATING for US-Iran tensions and the Strait of Hormuz crisis.