Oil still ‘driving' the market as Iran conflict is ‘not going away': Josh Schafer

• Stock markets (Dow, S&P 500, Nasdaq) experienced declines due to elevated oil prices and hotter-than-expected inflation readings (PPI).
• Bond yields, particularly the US 10yr Treasury, jumped to 4.4%, signaling increased inflation expectations and acting as a headwind for stocks.
• The Strait of Hormuz blockade is causing widespread supply chain strain, impacting everything from fertilizer (corn chips) to helium (microchips).
• Consumer spending is expected to slow due to higher gas prices, affecting retail and airline sectors, while the car market sees demand shifts towards higher-income buyers and potentially hybrids.

The video discusses the negative impact of the Iran conflict and soaring oil prices on financial markets and global supply chains. Stocks are tumbling, inflation fears are growing, and bond yields are spiking. Beyond oil, various commodities and consumer spending are affected, leading to struggles in retail and airline sectors, and shifts in the automotive market towards older, wealthier buyers.