Here’s what the stock market might have gotten wrong about the Iran war

As stocks soared this week and oil prices dropped amid an apparent cooling of tensions between the United States and Iran, it may have left the impression that the energy shock that rattled the world would quickly fade, along with the risk of sending the global economy into recession.The optimism may have been short-lived. On Saturday, Iran’s military announced it would reimpose restrictions on the Strait of Hormuz, throwing the critical waterway’s status into doubt.The uncertainty highlights that beneath that surface, a starkly different reality is unfolding. It is defined by disrupted supply lines and damaged infrastructure, sparking increased concern...