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Stocks fall and oil hits $108 as Trump-China talks fail to reopen Strait of Hormuz

Market News
15 May 2026
Market Watch
View Source
Bearish
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U.S. stock markets declined broadly while global oil prices rose back to $108 per barrel following President Donald Trump's unsuccessful attempt to secure China's help in pressuring Iran to reopen the Strait of Hormuz. The U.S.-China summit in Beijing ended without any commitment from China to influence Iran, raising concerns about prolonged conflict and economic uncertainty. Investors are worried about the impact on consumers and the economy amid recent high inflation readings and geopolitical tensions. This situation could lead to continued market volatility and higher energy prices going forward.

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