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WSJ Minute Briefing

Wall Street Braces for Volatility as Strait of Hormuz is Shut Again

WSJ Minute Briefing

The Wall Street Journal

Business News, News

4.1671 Ratings

🗓️ 20 April 2026

⏱️ 3 minutes

🧾️ Download transcript

Summary

Plus: the U.A.E. asks the U.S. for a financial lifeline. And this week's economic data is set to reveal the Iran war's impact on the U.S. economy. Luke Vargas hosts.  Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

I think the potential of Agenic is to rethink how work gets done overall.

0:05.0

It challenges all sorts of traditional orthodoxies around how organizations execute the work at hand.

0:11.3

That's Jason Gersatus, CEO of Deloitte U.S., talking about the transformational potential of A.Gentic AI.

0:17.9

Join him later to learn why agents are a game changer for businesses across industries.

0:25.3

Here is your morning brief for Monday, April 20th. I'm Luke Vargas for the Wall Street Journal.

0:31.1

After a three-week-long rally that's brought U.S. stocks to record highs, investors are yet again

0:37.1

bracing for uncertainty following a whirlwind

0:39.6

of developments in the Iran war. Hopes had been raised last week for an end to the conflict

0:44.4

and that the Strait of Hormuz was reopening to shipping traffic until Iran on Saturday said that

0:50.3

the strait remained closed. In a series of social media posts yesterday, President

0:54.8

Donald Trump called that a total violation of the ceasefire agreement and threatened to knock

0:59.8

out all of Iran's bridges and power plants if Tehran doesn't agree to peace talks before the

1:05.1

truce expires on Wednesday. While wary of the potential long-term economic consequences of the war, the United Arab Emirates has asked the U.S. about offering it a financial lifeline.

1:16.4

That could include a currency swap line, which would give the Emirates Central Bank cheap access to dollars in order to prop up its currency or shore up its foreign reserves.

1:26.2

Emirati officials haven't made a formal request yet, but we report that they've argued

1:30.5

it was President Trump's idea to attack Iran, and that should they run out of dollars,

1:35.4

the country could be forced to use the Chinese yuan for oil sales, an implicit threat to

1:40.7

the U.S. dollar, which enjoys near-exclusive use in oil transactions.

1:45.2

The UAE Central Bank didn't respond to request for comment. A Fed spokesperson declined to comment.

1:51.3

And investors hunting for clues on the war's effect on the U.S. economy will have a lot to consider

1:56.5

this week, starting with a retail sales update tomorrow that'll reveal whether consumer spending

2:01.3

has slowed as a result of rising prices. Thursday's PMI readings for April will show the hit

...

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