00:00What if one global shock could hit your wallet, your gas prices, and the entire world economy?
00:05That shock is happening right now. U.S. stocks just took a big hit.
00:09The Dow plunged 785 points. The S&P fell. And the Nasdaq slipped.
00:15At the same time, oil suddenly spiked. U.S. crude jumped above $80.
00:20Its biggest one-day surge since 2020. Brent crude shot past 85,
00:25the reason escalating conflict involving Iran.
00:28Attacks are spreading across more countries.
00:30And now the Strait of Hormuz is almost closed.
00:33Thousands of ships are stuck in the Gulf.
00:35Oil producers are slashing output. Asian buyers are scrambling for new supply.
00:40Nearly one-fifth of the world's oil and gas is trapped.
00:43Markets are reacting fast. Treasury yields are rising.
00:47And hopes for quick interest rate cuts are fading.
00:49Even big tech felt the shock.
00:52NVIDIA and other chipmakers dropped after reports of new U.S. limits on AI chip exports.
00:57Though NVIDIA managed to bounce back later.
00:59The world is holding its breath.
01:01Because until tankers can move again, markets may stay on the edge.
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