Geopolitical Tensions Continue to Influence Markets in 2026

War in the Middle East, disrupted shipping through the Strait of Hormuz, tariffs, and a Federal Reserve leadership change have combined to make 2026 one of the most geopolitically sensitive years for markets in recent memory. Oil prices surged, gold hit records, and U.S. stocks swung sharply before recovering. Here's what's actually happening, why it matters, and how to think about your own money in a year defined by uncertainty.