Global Markets Reel as Iran Conflict Escalates, Amazon Faces Ad Auction Lawsuit

Global markets were volatile on Thursday as tensions between the US and Iran continued to escalate. Oil prices surged after the US launched strikes on Iranian sites in the Strait of Hormuz, causing major US indexes to dip.

The Dow, S&P 500, and Nasdaq closed out a winning month, but still experienced losses due to the conflict. The escalating tensions have also driven up mortgage rates, with the 30-year fixed loan rate reaching its highest level since June 2025 at 6.87%.

Analysts warn that September could be a tough month for markets, with historical trends suggesting increased volatility. Meanwhile, Amazon is facing a lawsuit from the FTC and 22 US states over allegations of rigging ad auctions to inflate prices for sellers and consumers.