The Iran war threatens to undermine Trump’s favorite bragging point | CNN Business

Stocks have climbed, bond yields have fallen and the US dollar has weakened across President Donald Trump’s second term so far — market movements the president has welcomed. But the war with Iran is threatening to disrupt that, sending stocks lower and pushing yields and the dollar higher. That complicates the narrative for a president who prides himself on record-high stocks, low borrowing costs and a weaker dollar for boosting manufacturing. And with a razor-thin Republican majority in the House of Representatives at stake, that could make Trump’s pitch to midterm voters a harder sell. The longer the conflict goes, the longer stocks, bonds and the dollar could all trade in exactly the opposite way Trump wants. Trump often touted record-high stocks before the war, as when the Dow hit 50,000 points last month. He’s frequently referred to the market’s strength as evidence of his presidency’s success. “The stock market has done so well, setting all those records — your 401(k)s are way up,” Trump said during his State of the Union address on February 24. But the Dow has dropped roughly 7% since its latest record high on February 10, as investors worry about global oi