Rising tensions over the Strait of Hormuz between the U.S. and Iran are driving oil prices higher (toward $94-95/bbl), fueling inflation concerns and pushing U.S. Treasury bond yields to multi-decade highs. This geopolitical shock is pressuring global equities and gold, forcing the Fed to reconsider its interest-rate path; while markets still price in a 70% hold at the September FOMC meeting, the inflation re-acceleration could extend monetary tightening and destabilize investment portfolios across sectors.