Wall Street warns TACO traders as Iran begins laying mines

Group 1 - The situation in the Middle East is causing oil prices to rise above $100 a barrel following Iran's election of Mojtaba Khamenei [1] - Investors on Wall Street are betting on a scenario where President Trump may back down from military action, coining the term "TACO" for this belief [2] - Iran's recent actions of laying mines in the Strait of Hormuz, a critical chokepoint for global oil supply, are raising concerns about potential military escalation [3] Group 2 - The U.S. Navy has not yet escorted vessels through the Strait of Hormuz, but President Trump emphasized the importance of removing the mines [4] - Some investors view the current conflict as a "buy-the-dip" opportunity, hoping for a return to normalcy in stock prices [5] - A strategist from JPMorgan Private Bank highlighted the unpredictability of global events and the various potential outcomes that could arise from the situation [6]