Ken Griffin Warns of Recession Risk Due to Strait of Hormuz Closure
Billionaire investor Ken Griffin has warned that a global recession is likely if the Strait of Hormuz remains closed for six to 12 months. The S&P 500 is currently near record highs, but has historically declined significantly during recessions. Oil prices have surged to multiyear highs due to disruptions in the Strait of Hormuz, which handles 20% of global oil shipments.
Topics: geopolitical tensions market volatility oil prices recession risk S&P 500 Strait of Hormuz