A standoff between the US and Iran lifted oil prices, dragging down stocks and bonds after clashes around the Strait of Hormuz raised concer

A standoff between the US and Iran lifted oil prices, dragging down stocks and bonds after clashes around the Strait of Hormuz raised concerns about potential disruptions to energy supplies that could fuel inflation. [12:29 ET] Fed's Waller: worried about equally likely scenario that stricter policy will be required. May need hikes if core inflation reading this week is hot. [10:16 ET] Trump: Reinstating the Iranian blockade. [Dollar & WTI Crude Strengthened, US Stock Indexes Weakened]