Iran war jeopardizes Trump economic boom before key midterm elections

Will the Iran war turn President Donald Trump’s 1980s boom into a 1970s stagflation? Only if it drags out, which the president says he plans to avoid. But the enemy gets a vote too, as the saying goes, so what if it’s a long conflict?

As soon as Trump started bombing Iran, markets fell – especially growth stocks like AI. Silver plunged. Bonds fell. Even gold is now down nearly 3%, having replaced its initial war pop with an ominous flight to dollars you see in recessions.

Oil jumped 10% in two days...