oil didn't flinch on a hormuz headline and that tells you everything about this market

Tuesday was wild. Trump posts that the Strait of Hormuz stays open, no blockade, claims Iran agreed to nuclear inspections. Iran immediately denies it. Hormuz handles roughly 20% of global oil transit and Brent sat near a 3 month low around $77 instead of spiking. That non reaction is the whole story. Equities bled out anyway: Nasdaq dropped 2.21%, Hang Seng fell 1.82%, Hang Seng TECH got hit harder at 3.30%. The real weight on growth stocks is the roughly 70% implied probability of a Fed hike and the dollar index breaking above 101. Stronger dollar plus tighter rates is a straightforward headwind for anything priced on future earnings: your NVDA, your BABA, your CATL exposure, doesn't matter the geography. Been trimming growth since early June and Tuesday confirmed it. The 2 year yield barely moved on the Hormuz news but DXY pushed past 101, which tells you the bond market agrees the Fed path matters more than Middle East supply risk. I'm not adding back into China or growth here, not while the dollar is ripping. The Fed is the only trade right now.