Get ready for the Trump Slump

Improbable though it may seem, a bombing raid on Iran may, like the proverbial Chinese butterfly flapping its wings and causing faraway chaos, trigger disparate distant ructions. Not only could the US’s November elections be upended, and the political honeymoon of Andy Burnham brought to a halt. The chaos could also trigger a fall in global stock markets and possibly a slide into recession. Donald Trump’s latest attempt at escalating to de-escalate in the Middle East conflict has not had the desired effect. Since the bombing began over the weekend, bond yields have been rising across the world, the price of oil has shot back up and stock markets have turned shaky. On Tuesday, the conflict deepened further, with Iran launching missile and drone attacks at multiple American bases in the regi