Iran Escalation & Strait of Hormuz Crisis

Renewed US-Iran peace hopes after ceasefire collapse; oil plunges 4-5% on potential Strait of Hormuz reopening. S&P 500 and Dow hit all-time highs on optimism. Prediction market sees normalcy pushed to 2027 but deal optimism growing. Houthi attacks on Saudi coast remind fragility. DXY rising adds pressure. Shipping cost inflation from rerouting adds inflation angle. Ceasefire may be temporary; Fed meeting and tech earnings this week. Bitcoin near $64k on risk-on. New diplomatic dialogue intensifies, with oil dropping further on deal prospects.