Renewed Iran attacks and rising prices

This is bad for consumers and investors: war fears are pushing up oil, grocery prices, and crashing stocks.

• The Dow dropped sharply after Trump said more attacks on Iran are coming, despite an earlier ceasefire.
• The whole Middle East is destabilized, with strikes spreading to Lebanon and missiles intercepted over Jordan, Kuwait, and Bahrain.
• Oil jumped toward $90 a barrel, and Trump claims he secretly moved oil through the Strait of Hormuz to keep prices from spiking even higher.
• Grocery prices have nearly doubled since before the pandemic, with beef, tomatoes, lettuce, and coffee leading the jump.
• Trump says he "loves" the high inflation, framing it as pain inflicted on Iran rather than on American shoppers.

Outlook: More bombing and sanctions are likely, so oil and food prices will probably keep climbing while markets stay shaky.