Just got home after playing badminton, and now the U.S. and Iran are stirring up trouble again. Besides crude oil prices going up, gold and $BTC are both dropping, and AI stocks, semiconductors, and storage are falling even harder. Here's the rundown: First, the U.S. claimed that over the past two days, Iran attacked three commercial oil tankers passing through the Strait of Hormuz, including vessels linked to Qatar. The U.S. Central Command labeled this as Iran violating the ceasefire agreement. In response, the U.S. launched airstrikes targeting over 80 sites, including air defense systems, command and control centers, coastal radars, anti-ship missile facilities, and vessels belonging to the Iranian Revolutionary Guard near Hormuz. The U.S. stated the goal was to weaken Iran's ability to threaten international shipping. At the same time, the Treasury Department revoked the temporary exemption that previously allowed Iran to sell oil and petrochemical products, cutting off Iran's oil sales channels. Iran retaliated by launching missile and drone attacks on U.S. military facilities in Bahrain and Kuwait, and even claimed to have shot down a U.S. MQ-9 drone. The most interesting part is Trump, who declared that the temporary ceasefire agreement with Iran is over, said he doesn’t want to deal with Iran anymore, and even cursed them out, calling Iran "scum" and its leaders "pathological." He added that if Iran had nuclear weapons, they would use them. The escalation in Hormuz means the market has to reprice energy supply risks, which impacts not just oil prices but also global inflation expectations and monetary policy forecasts. If energy prices keep rising, the likelihood of the Fed maintaining high interest rates or even tightening further will increase. War is just the trigger—it's the dollar and liquidity that truly determine asset prices.