Raw material producers fall sharply on Iran negotiation and Hormuz fears

5 articles · Updated · MarketWatch · May 7

Metals and grains producers led declines as the US dollar edged higher and oil futures turned positive late in the session.
Jefferies said markets looked calm but second-order effects were building, with fertilizer disruptions already cutting expected wheat yields in countries including Egypt.
The brokerage warned delayed risks could spread across food, energy and shipping, while Cleveland Fed President Beth Hammack kept an open mind on rates as US jobless claims rose to 200,000.

Why do markets seem calm while a stagflation shock brews for consumers?

With the Strait of Hormuz closed, is a global food crisis now inevitable?

Beyond oil prices, how is this conflict reshaping long-term global alliances?