Trump Issues Ultimatum to Iran Over Strait of Hormuz as Markets Remain Calm

President Donald Trump has issued a final ultimatum to Iran, demanding the opening of the Strait of Hormuz or facing potential military action. Despite the severity of the threat, market indicators show a surprising level of complacency just hours before the deadline expires. Experts at PNC Financial Services Group warned that global markets have not yet priced in the worst-case scenario of a direct military escalation. This lack of volatility suggests that investors may be skeptical of the ultimatum's execution or are waiting for definitive geopolitical moves before reacting. A military conflict in the region could trigger a massive supply shock in energy markets, significantly impacting XTI/USD and XBR/USD prices. While oil and gold (XAU/USD) are traditionally sensitive to such risks, the current market reaction remains muted ahead of the critical deadline.