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Tehran in Turmoil as Residents Flee Following Trump’s Urgent Warning

The streets of Tehran are rapidly emptying as residents heed an urgent warning from U.S. President Donald Trump, who called for the immediate evacuation  of the Iranian capital amid escalating tensions between Iran and Israel.  Trump’s statement, posted on his Truth Social platform, emphasized that “Iran cannot have a nuclear weapon” and urged the city’s nearly 10 million residents to leave before it was “too late”. His remarks came as Israel intensified its airstrikes on Tehran, targeting key infrastructure and military sites.  Reports indicate that major roads leading out of Tehran are clogged with traffic, as families scramble to find safety. The city’s historic Grand Bazaar has shut down, an unusual move that underscores the severity of the situation. Meanwhile, Iranian authorities insist that “everything is under control” , though no official evacuation order has been issued.  The international community is closely monitoring the crisis, with leaders of the Gro...
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Markets Update: Weekly recap, August 26, 2023

 


This week, the stock market has been in the news for a variety of reasons. The Federal Reserve’s annual Jackson Hole symposium was held, and it offered policymakers an opportunity to outline broad policy shifts. The Fed’s tone is gradually evolving in a more favorable way for both equities and bonds, but some uncertainty remains around what will be needed to fight the last mile of inflation. Growth has stayed more resilient than most expected (including the Fed), though some downside remains as the rate hikes filter through the economy. Policy rates are now at, or nearing, a peak.

The S&P 500 edged 1.4% lower this week, while the tech-heavy Nasdaq closed out the week down 1.9% . The Dow Jones Industrial Average (DJI) slid 1.1% or 373.56 points to close at 34,099.42 . All three major indexes ended firmly in the red. Investors remained nervous about what to expect from Fed Chair Jerome Powell’s Jackson Hole speech . The fear-gauge CBOE Volatility Index (VIX) was up 7.6% at 17.20.








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