America's Iran War Is Now A War On Risk

Donald Trump can order a strike. He can give the Pentagon a mission. He can say the Strait of Hormuz will remain open. But even the president of the United States cannot create confidence by executive order. The latest crisis in Hormuz shows that America's war with Iran has entered a phase that can no longer be measured only by bombs, warships, or destroyed targets. The real question now is whether global markets believe Washington's claim that the route is safe.