Hormuz closure fuels fears of global stagflation shock

Financial markets are finding it harder to look past the rising economic costs of the Iran war as the continued closure of the Strait of Hormuz prolongs the world’s ​biggest-ever disruption to energy supplies.

Two months into the conflict, the global economy faces a toxic mix of slowing growth and high inflation – stagflation.

Even as tech stocks lift world ‌shares, analysts warn that the longer Hormuz remains shut, the greater the recession risk for energy-importing regions.