Honeywell International Inc (NASDAQ:HON) shares are falling Wednesday as the broader industrial group sold off. Oil prices surged after new U.S. strikes in the Strait of Hormuz raised fresh concerns about supply.
Honeywell Intl stock is among today’s weakest performers. What’s behind HON decline?
Higher energy costs tend to increase inflation risk, which can keep interest rates elevated and weigh on demand for industrial equipment and services.
Markets React To Trump's Escalation Toward Iran
The downturn intensified after President Donald Trump issued a series of forceful statements about Iran early Wednesday. He described Iran as a failing state and said the country would face consequences for delaying nuclear negotiations. He also claimed Iran's military had been weakened and highlighted a U.S. naval blockade that he said had cut off the country's ability to conduct business.
