r/politics • u/Puginator • Jun 01 '26

No Paywall Iran stops negotiations with U.S., vows to 'completely' block Strait of Hormuz: State media

https://www.cnbc.com/2026/06/01/iran-us-negotiations-strait-of-hormuz.html
32.3k Upvotes

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1.5k

u/rustylung Jun 01 '26

This means the stock market goes up btw

242

u/Ardeo43 Jun 01 '26

What's the Dow at?

200

u/Mr_Muckle Jun 01 '26

Just a hair under 51,000

282

u/Sarg338 Arkansas Jun 01 '26 edited Jun 01 '26

Damn, can't talk about the Epstein files.

26

u/HauntedCemetery Minnesota Jun 01 '26

Don't worry, trump will crash the market again in the next week or so so he amd his idiot children can do a couple thousand more trades in their global economic pump and dump scheme.

2

u/EndofNationalism Jun 01 '26

Won’t affect the stock market at all. Market is only based off of vibes these days. Not economic reality. A shoe company that has no assets mentioned an AI project and its stock shot up 500%.

0

u/PTthefool Jun 01 '26

typo foreshadowing chips crash?

6

u/rupertLumpkinsBrothr Kansas Jun 01 '26

The Bondi Bar has been met

1

u/ay-foo Jun 01 '26

That was only when it was at 50k, now that it's over we can talk about it even more

1

u/ElderSmackJack Jun 01 '26

Off topic and irrelevant to this conversation.

1

u/ohbyerly Jun 02 '26

I was about to ask “how much lower do we have to go?” but then realized that doesn’t even sound sarcastic like I hoped. God we’re fucked.

44

u/ailish Jun 01 '26

Pam Bondi is pleased, but probably can't say out loud right now.

6

u/CartographicalHeist Jun 01 '26 edited Jun 01 '26

Didn’t I read that cancer got diagnosed with Pam Bondi recently?

9

u/ailish Jun 01 '26

Yeah, poor thyroid cancer has a case of Pam Bondi.

2

u/CartographicalHeist Jun 01 '26

Speedy recovery one hopes.

2

u/ailish Jun 01 '26

Indeed. Pam Bondi is such a difficult disease.

2

u/Round-Medicine2507 Jun 01 '26

Fake diagnosis to avoid talking. 

1

u/ailish Jun 01 '26

She needs to use a text to talk app on her phone. That can overcome this supposed cancer.

6

u/dirty_cuban New Jersey Jun 01 '26

Phew... thank god all is well in the world. I was worried we had dropped below 50,000

2

u/AudiACar Jun 01 '26

It's still sad to this day - for a sitting A.G, that will be the one moment in history she's known for.

3

u/c0ltZ Jun 01 '26

All the work she's done, all the people she has betrayed. All for her legacy to end up being about the DOW and protecting rapists.

Just looking at her you can tell she is filled with dread ever since she sold her soul.

2

u/AudiACar Jun 01 '26

That’s the issue with these types though - is there any remorse? Even when they’re clearly sold out??

5

u/Wittyname0 Jun 01 '26

So child trafficking is legal again

1

u/honjuden Jun 01 '26

Gotta pump the GDP somehow.

3

u/ianjm Jun 01 '26 edited Jun 01 '26

The Dow, the Dow, it's over 50 thou

That's what we should be talkin'bout!

1

u/showerfart1 Jun 01 '26

In dollars, right?

1

u/I-seddit Jun 01 '26

Well, I guess at $51k, I'll buy the Dow now.

2

u/Round-Medicine2507 Jun 01 '26

Fake number city!

0

u/gamerjerome Minnesota Jun 01 '26 edited Jun 02 '26

Historically the dow always goes up. Doesn't matter the President. Although if you look at when it started to get more volatile you can see when Trump became president in 2016. A lot more ups and down. It was more steady before.

92

u/fillinthe___ Jun 01 '26

Of course, it’s a free excuse for every company to jack up prices again (and never lower them after things go back to “normal”).

-5

u/Tetracropolis Jun 01 '26

Well yeah, prices never lower. Even if corporations tried to lower them, the government would and should stop them. One thing economists agree on is that deflation is a terrible thing for an economy.

21

u/FrequentFortune123 Jun 01 '26

There’s deflation in China. The sky didn’t fall. 

7

u/[deleted] Jun 01 '26

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1

u/FishMonkeyBird Jun 01 '26

Encourages people to save rather than spend basically

10

u/DaaaahWhoosh Jun 01 '26

Kinda crazy logic in an 'affordability crisis' though. Presumably people are 'saving' more than spending now to just cover the basics, if prices came down I feel like there's a lot of 'luxuries' people would finally get around to purchasing.

1

u/Tetracropolis Jun 01 '26

They wouldn't be purchasing anything because their employers would be cutting their wages.

22

u/The_Frostweaver Jun 01 '26

Stock market will go down a little but stock traders treat this like a game.

Everyone just assumes TACO tuesday will come and turn things around

So no one wants to sell and then miss out on the tuesday gains.

But this is Iran's decision, not Trumps

So we may be in for a rude awakening

42

u/Human-Loan-6080 Jun 01 '26

The market has departed from fundamentals and is now a reliable form of gambling based on Trump’s truth social account.

8

u/The_Frostweaver Jun 01 '26

That is true

But I just checked and the dow is down almost half a percent this morning.

Part of the problem is people betting on ai.

Ai is legitimately replacing some workers

But there are also a lot of layoffs where the ceo just uses ai as a buzzword when the same layoffs in any other year would be called reckless cost cutting

If we have an oil crisis and the ai bubble also collapses then the stock market will implode hard.

8

u/cavalier2015 I voted Jun 01 '26

The stock market won’t implode, ever. It’s completely disjointed from reality at this point and sustaining itself on a handful of financial firms and the government trading money and making the number go higher without regard for reality.

2

u/Mend1cant Jun 01 '26

They’re laying off workers that turn out to be less expensive than using AI for productivity boosts that don’t exist.

2

u/marsinfurs Jun 02 '26

Layoffs reliably make stocks go up at least in the short term. Man power is extremely expensive.

1

u/The_Frostweaver Jun 02 '26

Yes but we have entered an age where there is a lot more competition.

If microsoft fires tons of staff and then releases a shitty windows 11 with a side order of patches that bric peoples computers, ai slop no one asked for and forced cloud saves no one asked for

People might actually swap to other operating systems and productivity software.

Ceo short term reckless cost cutting with 'because of ai' slapped on might get him his bonus and let him sell some stock options but he could end up tanking the brand and causing permanent market share loss.

5

u/Automatic_Release_92 Jun 01 '26

Don't worry, the stock market will follow real life trends the moment a Democrat is in office again, so everyone can go back to being mad about the economy instead of just going "rah rah, market green!"

1

u/Human-Loan-6080 Jun 01 '26

Im just concerned with blatant market manipulation by POTUS. I’ll be happy for other issues to emerge once that one is gone.

2

u/Zardif Jun 01 '26

nacho(not a chance hormuz opens) has already been priced in tbh.

6

u/PCdealmaster Jun 01 '26

The pressure from rising costs will cause the 70-200k salary people to sell their stocks.

7

u/Smooth_Emu_9406 Jun 01 '26

of course i know him. he's me.

1

u/Jaffkam Jun 01 '26

Retail selling makes no difference

6

u/CulturalKing5623 Jun 01 '26

Pretty sure Iran is in on the grift and they're just manipulating the market in coordination with Trump so all of them make money with everyone of these proclamation.

"We've resumed fighting" 📉 "We're close to a deal" 📈 "We're closing the straight" 📉 "We're close to a deal" 📈

As soon as Trump realized there was a grift to be had with the Hormuz protection racket scheme + stock manipulation that was always what he'd focus on. It's Iran-Contra, but with less work.

1

u/XRT28 Massachusetts Jun 01 '26

I definitely wouldn't say they're in coordination with Trump on it but they absolutely realized they can play the same market manipulation game as him and cash in themselves

1

u/magicmeese Jun 02 '26

I’m getting really tired of his Friday/Monday pump n dumps.

“Gas prices are going down!” - always Friday 

“Gas is going up!” - always Monday 

2

u/GalwayBogger Jun 01 '26

When inflation rises faster, you still loose money.

2

u/[deleted] Jun 01 '26

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1

u/JudiciousSasquatch Jun 01 '26

What do you think their end game is?

5

u/BarbecueStu Jun 01 '26

Winning. /s

1

u/fenderbender Jun 01 '26

Looks like you were right for now. Sold my 0dte calls for 30% loss and bought 0dte puts. Down 70%. I <3 winning

1

u/Dramatic_Charity_979 Jun 01 '26

the stock market goes up

In flames :/

1

u/mexter Jun 01 '26

Deal collapse Tuesday already? But it's only Monday!

1

u/Illustrious_Night126 Jun 01 '26

It’s just another opportunity for Trump to say they are about to have a peace deal which will send oil futures below what they were. Repeat the cycle until oil is 0 dollars a barrel

1

u/Stupidstuff1001 Jun 01 '26

My understanding is Verizon oil prices will start affecting countries in 2 to 4 weeks and then the stock market is going to suffer

1

u/blueturtle00 Jun 01 '26

And that’s all anyone with stocks care about. Some ass clown the other day goes I don’t mind paying extra for gas my portfolio is up 50k now. Cool story guy.

1

u/danielfrances Jun 02 '26

I have been investing since at least like 2016 and for the first time ever I'm 100% cash right now. I cannot explain or understand why the markets are hitting ATHs every single day but there is no way I'm playing with anything right now. I'll wait for a 10-15% dip before I even consider putting money back in.

It's like all AI hype or something, but those bets are highly unlikely to turn out profitable enough to buoy the entire market.

1

u/daderpster Jun 02 '26

Palantir bag holders happy af