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It is falling today because the Administration is just making up stories to cover for the deaths of six servicemen, and that just comes off to the rest of the world as incompetence and deceit.

The markets are reacting to how stupid and duplicitous they think the people in charge of this shit-show are now that they've had a chance to look competent and failed badly.

There's no other real reason for the markets to tank. Iran does very little trade with the rest of the western world.

Sure, oil is going to go up, but that happens all the time. It will impact inflation a little. But with such a huge U.S. military presence in the region the Strait of Hormuz and global trade routes should stay open. I mean, we are the best in the world, right?

The concern is really that the people firing the missiles are dangerously incompetent.