Iran war escalation could trigger global recession, IMF warns

Growth forecasts cut for US and global economy, while UK suffers sharpest downgrade in G7

HSBC says Iran war is hitting confidence as businesses warn over economic risks

Oil-driven inflation is big challenge to world economy, lifting inflation and depressing growth, says bank’s chair

US president’s previous threat to block strait of Hormuz had led to a 6.9% increase in earlier trading

As World Bank and IMF chiefs gather in Washington, the Iran war is driving up energy prices, fuelling inflation and testing voters’ patience

Seafarer refuses to sail through the strait, citing safety risks and mounting psychological toll

Kristalina Georgieva says even ‘most hopeful scenario’ will lead to growth downgrade and cause permanent hit to living standards

Situation still volatile as Tehran and Washington issue conflicting messages about opening of Hormuz channel

Analysts say doubts over stability of the ceasefire and damage to production sites mean the energy crisis is far from over

Oil prices swing and stock markets tense on approach to Trump’s deadline for Iran to reopen strait of Hormuz

Analysis shows developing economies more likely to experience higher interest rates and currency shocks

JP Morgan boss warns of risks of higher inflation and interest rates due to Iran war in annual letter to shareholders

UN says record numbers of people could face acute hunger if conflict continues

Datafeeds from platforms being used to create algorithms that determine multimillion-dollar trades on global market

US president’s claim that conflict is nearing end prompts 15% drop in Brent crude and stock market climb in Asia

Financial policy committee predicts ‘Trumpflation’ rises, as average two-year fixed rate hits 5.84%