Markets volatile as Iran tensions spike

U.S. markets swung between gains and losses on Friday as investors weighed renewed Iran war tensions, rising Treasury yields and fresh scrutiny of President Donald Trump’s securities trades. Nvidia, which closed at a record on Thursday, remained at the center of market chatter after newly posted ethics filings showed Trump had bought between $1 million and $5 million of the company’s shares in February. (finance.yahoo.com) Treasury yields also stayed elevated as traders tracked oil-linked inflation risks tied to the conflict. (finance.yahoo.com) The moves came after weeks of conflict-related strain across oil, equity and bond markets. A Federal Reserve Bank of St. Louis blog post published April 30 said U.S.-Israeli military action against Iranian sites began on February 28, shipping disruptions in the Strait of Hormuz were reported on March 1, and the United States imposed a naval blockade of Iran’s ports on April 13. The post said those events moved crude prices and the CBOE Volatility Index. (morningstar.com) ### Why were Treasury yields moving higher instead of falling? The Federal Reserve Bank of St. Louis said on April 30 that oil and volatility both rose after the latest Iran-related events, underscoring how the conflict has fed inflation concerns as well as demand for protection. That pattern has complicated the usual safe-haven bid for Treasuries, because higher oil prices can push investors to demand higher yields. Yahoo Finance showed Nvidia at $235.74 at the May 14 close, while CNBC data listed a May 14 intraday high of $236.54 and identified that session as a new 52-week high. (fredblog.stlouisfed.org) The same CNBC quote page showed Treasury-sensitive markets trading against a backdrop of elevated rates and a heavy technology bid. ### What did Trump’s disclosure actually show about Nvidia? A 113-page Office of Government Ethics filing made public this week showed Trump bought Nvidia shares on February 10 in a range of $1 million to $5 million, according to a report summarizing the filing. (fredblog.stlouisfed.org) The same report said Trump also bought Boeing shares in that range on the same day and disclosed 36 purchases of between $1 million and $5 million during January, February and March. (finance.yahoo.com) The Office of Government Ethics says Form 278-T covers purchases, sales or exchanges of securities above $1,000 and that presidents’ filings are available through its public disclosure search collection. The filing itself was received on May 12, 2026, according to the document header. ### Why was Nvidia tied to Trump’s China trip? Reuters reported on May 7 that the Trump administration was inviting chief executives from Nvidia, Apple, Exxon and Boeing, among other companies, to accompany the president on a trip to China. (morningstar.com) Reuters also reported that Nvidia Chief Executive Jensen Huang said on CNBC that, “If invited, it would be a privilege,” while Boeing was counting on the administration to help unlock a major China order. (www2.oge.gov) Bloomberg later reported that Huang joined Trump’s China visit as a last-minute addition. Market participants linked that travel, along with the disclosure of Trump’s Nvidia purchase, to expectations that export access or commercial announcements could benefit the chipmaker, though no official policy change was confirmed in the sources reviewed. ### Did Nvidia really hit a record before Friday’s swings? Yahoo Finance data showed Nvidia closed at $235.74 on May 14, up 4.39% on the day. (money.usnews.com) CNBC’s quote page listed $236.54 as the session high and marked May 14, 2026, as the stock’s 52-week high date. MarketWatch’s summary of Trump’s filing said investors had already been watching Nvidia for potential gains tied to China access. That added a political layer to a stock already moving on artificial-intelligence demand and ahead of earnings. (bloomberg.com) ### What comes next for traders watching this story? Nvidia is scheduled to report earnings on May 20, according to Yahoo Finance. The Office of Government Ethics public database continues to host Trump’s periodic transaction reports, including the filing received on May 12. (finance.yahoo.com 1) (finance.yahoo.com 2) (morningstar.com)