Stocks Drop as Iran Concerns Linger, RBA on Inflation

Equities declined as concerns around Iran lingered even after President Donald Trump said he was holding off on fresh strikes on the Middle East country. Oil fell. Brent crude slipped 2% to about $110 a barrel, after earlier falling 2.8%. Trump said plans for a strike on Iran were called off following appeals from Persian Gulf allies, adding that "serious negotiations are now taking place." We spoke to Mark Cranfield, Bloomberg MLIV Strategist. And - Australian policy makers are increasingly concerned about inflation expectations becoming unanchored, a senior Reserve Bank official said, as the latest oil-price shock from the Iran war hits at a time when underlying price pressures from the previous inflation surge have yet to fully subside. Reserve Bank Assistant Governor Sarah Hunter highlighted the danger of rising inflation expectations in a speech to a Bloomberg Forum for Investment Managers on Tuesday, focusing on persistent price pressures in the economy both before and after the energy shock triggered by the war in Iran. Hunter spoke to Bloomberg TV Host Haidi Stroud-Watts. See omnystudio.com/listener for privacy information.