Daily Digest — 19 Apr 2026

Geopolitical tensions dominated global markets as Iran announced the closure of the Strait of Hormuz, with Iranian officials citing the ongoing US blockade of their ports. This critical shipping chokepoint handles roughly 20% of global oil transit, sending energy markets into turmoil with crude prices plummeting 9.4% to $82.59 as traders grappled with supply disruption fears. The escalation prompted central bankers and policymakers to voice concerns about stagflation risks and energy security across major economies.

Cryptocurrency markets felt the strain as Bitcoin dropped 2.1% to \(75,589 amid broader risk-off sentiment, while the sector faced its own turbulence with [Kelp DAO suffering 2026's largest exploit](https://www.coindesk.com/tech/2026/04/19/2026-s-biggest-crypto-exploit-kelp-dao-hit-for-usd292-million-with-wrapped-ether-stranded-across-20-chains), losing \)292 million to attackers who drained 18% of its circulating supply. Precious metals provided the traditional safe haven response, with gold surging 1.5% to $4,879 and silver jumping 4% as investors sought protection from mounting geopolitical uncertainty.

In the UK, Prime Minister Keir Starmer faced intensifying pressure over the Peter Mandelson appointment scandal, with Foreign Secretary David Lammy stating that Starmer would have blocked the role had he known about vetting failures earlier. Meanwhile, technology continued its expansion as Tesla launched robotaxi services in Dallas and Houston, now operating driverless rides across three Texas cities, while AI chip startup Cerebras filed for IPO following major deals with Amazon and a reported $10 billion agreement with OpenAI.