Trump is losing patience with the Iran war, and the rising talk of nuclear weapons makes this dangerous for everyone.

• Trump is growing angry over how the Iran conflict is going.
• A new US nuclear strategy is being floated that could touch Russia, China, or Iran.
• The long-standing rule is that no country uses a nuclear weapon first.
• Even talking openly about breaking that rule invites other countries to do the same.

Outlook: Expect more pressure on Iran and more nuclear rhetoric, which markets tend to read as a risk signal.