President Donald Trump Expected the Iran War to Drive the Stock Market "Down 20% to 25%" -- His Prophecy May Still Come True
Written by Sean Williams for The Motley Fool -> The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite have thus far bucked Iran war concerns, but may not be able to fend them off for much …
The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite have thus far bucked Iran war concerns, but may not be able to fend them off for much longer.
Iran-war-driven inflation, which has spilled over into the broader economy, may force the Federal Reserve to act.
Furthermore, the Iran war could place historically high stock valuations under a microscope.
Last week, the iconic Dow Jones Industrial Average (DJINDICES: ^DJI) and broad-based S&P 500 (SNPINDEX: ^GSPC) soared to fresh all-time highs. Meanwhile, the innovation-inspired Nasdaq Composite (NASDAQINDEX: ^IXIC) reached uncharted territory in early June.
These all-time highs have been achieved despite mounting headwinds on Wall Street. Specifically, equities have launched to new highs with the Iran war still ongoing and trailing 12-month inflation clocking in well above the Federal Reserve's long-term target of 2%.
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The Trump-led Iran war is complicating things for Wall Street. Image source: Official White House Photo by Daniel Torok.
Back in May, while speaking to the press about the Iran war in the Oval Office, President Donald Trump stated:
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