Geopolitical Risks (Iran/Oil)
Trump ordered fresh strikes on Iran over the weekend (WSJ), SPY/QQQ dropped 0.5% after-hours, USO jumped 3%. Oil spike and defense rotation likely to accelerate. Strait of Hormuz disruption and Iran war escalation remain key tail risks. No new escalation in recent articles, but risk remains.
Sources (2)
Updated Aug 2, 2026