finance
Strait of Hormuz Remains Closed
The closure of the Strait of Hormuz has continued, contributing to higher global energy prices and rising inflation. U.S. consumer sentiment remains low while major stock indexes have reached new highs.
May 18, 7:30 PM·1m read1 source
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The Strait of Hormuz remains closed, according to reports cited on the Everybody's Business podcast. The closure has coincided with higher global energy prices and continued increases in inflation. U.S. consumer sentiment has stayed low during the same period. U.S. stock indexes have reached record levels.
Tech companies have continued expanding artificial intelligence operations while stock prices have risen. The podcast discussed the gap between market performance and broader economic indicators. Max Chafkin and Stacey Vanek Smith hosted the discussion with guest Kyla Scanlon.
The episode examined conditions on Wall Street and Main Street. The hosts noted that an eventual decline in AI-related investment could affect market levels. No specific timeline or magnitude for such a change was provided.
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