The Financial Times details the ways in which the war in the Middle East has “rattled global markets”, noting a 3% fall in European stock markets and the closure of Iraq’s oilfields due to Iran’s threats against tankers passing through the Strait of Hormuz. The paper quotes Peter Schaffrik, a global macro strategist at RBC Capital Markets, who said that the market seems to be “mentally transitioning from a short war to a long war”.
