Iran Parliamentary Speaker Ghalibaf warned US efforts at sustaining military escalation near the Strait of Hormuz could trigger a fresh global financial crisis at a time when US national debt already stands at a whopping USD 39tln, according to Press TV

Ghalibaf's warning highlights the potential for US military actions near the Strait of Hormuz to escalate tensions and impact global financial stability. Given that the US is already facing a significant debt burden, the intersection of geopolitical unrest and financial markets could lead to heightened volatility, particularly in commodities and currencies closely tied to energy supply. Traders should monitor how this development could influence risk sentiment across the market, especially in oil prices and safe-haven currencies like the USD and JPY.