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You are here: Home / News / Markets rattled as US, Iran clash in Hormuz

Markets rattled as US, Iran clash in Hormuz

8 May 2026 by CapeTownNewsReader
Tensions in the Middle East intensified on Wednesday as Iran's Revolutionary Guards seized two vessels in the Strait of Hormuz whilst the United States blocked nearly $500 million in cash destined for Iraq, in moves that threaten fragile ceasefire arrangements in the region.

The US was awaiting Iran’s response to its latest proposed peace deal, after both sides accused the other of triggering an overnight clash.

The post Markets rattled as US, Iran clash in Hormuz appeared first on City Vision.

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