What immediate market impact did Trump's announcement about a 20% fee on cargo through the Strait of Hormuz have on Asian stocks and oil prices?

Trump's announcement caused stocks in Asia to swing between gains and losses, with MSCI's Asia-Pacific index outside Japan rising 0.4% and Korean shares surging 2.2%, while Brent crude futures climbed 2.6% to $85.50 a barrel — their highest level since mid-June.

How did Federal Reserve Governor Christopher Waller's comments and market expectations for a rate hike influence investor sentiment alongside the Hormuz developments?

Waller's hawkish remarks — stating the Fed may need to raise rates 'in the near term' if inflation remains above 2% — combined with the Iran-related energy shock to create a 'rarely supportive' environment for risk assets, as noted by Chris Weston; Fed funds futures reflected rising odds of a 25-basis-point hike at the July 28–29 meeting, with probability increasing from 34.2% to 43.3%.

Asia Markets Choppy as Threat of Trump Hormuz Levy Spooks Traders

Jul 13, 2026

Asian stocks fluctuated and oil prices surged to a one-month high after President Trump threatened a blockade and levy on Iranian shipping through the Strait of Hormuz, sparking fears of an energy shock alongside hawkish Federal Reserve comments.

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