Affected by the Iran Strait of Hormuz crisis, Brent crude oil prices surged above $90 per barrel, undermining investor confidence. The Dow Jones Industrial Average plummeted 785 points (1.61%), closing at 47,399 points, marking the largest single-day decline since January. This conflict has paralyzed a critical global oil chokepoint, causing a 20% disruption in worldwide oil transportation and pushing up European natural gas prices. Goldman Sachs models indicate that for every $10 increase in Brent crude oil prices, the Dow Jones index will fall by 200 points. The current probability of a recession is as high as 45%. Although defense stocks rose, industrial stocks such as Caterpillar and Boeing declined significantly.