00:00It's Benzinga bringing Wall Street to Main Street
00:02Veteran strategist Ed Yardini warned U.S. stocks face a rising risk of a sharp sell-off
00:07as the war involving Iran pressures global markets and energy prices, according to Bloomberg.
00:13Yardini raised the probability of a market meltdown to 35% from 20% and cut the chance
00:19of a melt-up to 5% from 20%. Oil prices climbed above $100 a barrel as investors prepared for
00:25a prolonged Middle East conflict. Yardini said the U.S. economy, stock market, and the Federal
00:30Reserve are caught between the risk of higher inflation from an oil shock tied to the Iran
00:35conflict and the risk of rising unemployment if the shop persists. Traders reduced expectations
00:40for Federal Reserve rate cuts as inflation and growth risks increased. The S&P 500 fell 2%
00:46last week while a global equities index dropped 3.7%. For all things money, visit Benzinga.com.
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