Markets on edge as fresh U.S.-Iran attacks dent optimism over a peace deal

• Hostilities between the U.S. and Iran have ramped up in the last 48 hours.
• The U.S.′ bid to re-open the Strait of Hormuz, dubbed “Project Freedom,” was nicknamed “Project Deadlock” by Iran.
• The U.S. said Monday that it sank several Iranian boats in the Strait of Hormuz, while Iran renewed missile and drone attacks against the UAE.

Source: https://www.cnbc.com/2026/05/05/us-iran-attacks-markets-peace-deal-talks.html