Waning investor sentiment pushed markets lower this week as expectations shifted toward a more prolonged conflict with Iran, extending well beyond the initial four- to six-week timeline projected by the White House. Rising geopolitical risk has reignited inflation concerns, driving oil prices back toward $100 per barrel and lifting the 10-Year Treasury (US10Y) yield above 4.40%, its highest level since July, when the pause on reciprocal tariffs ended. Higher rates and inflation fears have weighed heavily on growth stocks, with the Invesco QQQ Trust (QQQ) entering correction territory, down roughly 10% from recent highs.
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