Global Markets React to U.S.-Iran Tensions and Economic Speculations

U.S. stock markets experienced a decline, with Hong Kong's ADRs dropping by 6 points or 0.02% to 25,271 points. According to Ming Pao, the night futures fell by 525 points or 2.08% to 24,725 points, with a discount of 552 points. U.S. President Donald Trump issued an ultimatum to Iran, demanding the reopening of the Strait of Hormuz, while Tehran threatened further retaliation. Bond traders have completely abandoned bets on a Federal Reserve rate cut this year, with some predicting a 50% chance of a rate hike by October. Oil prices rose, gold prices fell, and Asian stocks tumbled amid these developments.