Stocks and bonds wobbled while Trump promised the harshest economic squeeze ever placed on a country, pushing oil higher — bad news for drivers, shoppers, and anyone hoping for calm markets.

• Dow futures fell and government bond yields reversed, undercutting the Treasury's recent plan to shift borrowing toward longer-term debt.
• Trump announced sweeping sanctions on Iran and threatened "tremendous consequences" for any country whose banks, airports, or businesses help it — a threat that will be tested first against China.
• Oil jumped into the mid-90s on the news, with $100 in reach, and high gas prices are already forcing lower-income shoppers to choose between filling the tank and buying dinner.
• Walmart posted its slowest US sales growth in years, with only households earning above $100,000 holding up; its growth now comes from online sales, memberships, and ads.
• Politics is shifting too: Angie Nixon won Florida's Democratic Senate primary despite being outspent 20-to-1 and given a 10% chance, running on Medicare for All, universal child care, and a rent freeze.

Outlook: If the Iran squeeze holds, expect oil and gas prices to keep climbing into the midterms, squeezing consumer spending further.