Wall Street opens lower as Iran war uncertainty remains
Philip Palumbo, CEO and Chief Investment Officer at Palumbo Wealth Management, explains how markets are reacting to the war in Iran this week. US shares dipped on Monday as the optimism that powered last week's record-breaking rally turns back to uncertainty. Iran says it has 'no plans' for further peace talks with the US, while an American delegation heads to Islamabad to resume negotiations. The seizure of an Iranian cargo ship by the US Navy on Sunday has reignited tensions over the Strait of Hormuz, with Iran declaring the vital waterway closed. All of this is pushing oil prices higher.
