{"id":71076,"date":"2026-08-28T23:08:13","date_gmt":"2026-08-29T03:08:13","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-economic-resilience-tested-amid-hormuz-tensions-and-corporate-settlements\/71076\/"},"modified":"2026-08-28T23:08:13","modified_gmt":"2026-08-29T03:08:13","slug":"global-economic-resilience-tested-amid-hormuz-tensions-and-corporate-settlements","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-economic-resilience-tested-amid-hormuz-tensions-and-corporate-settlements\/71076\/","title":{"rendered":"Global Economic Resilience Tested Amid Hormuz Tensions and Corporate Settlements"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Walmart (<a href=\"\/stock\/WMT\">WMT<\/a>)<\/strong> reached a <strong>$50 million settlement<\/strong> with the <strong>U.S. Department of Justice (DOJ)<\/strong> to resolve civil litigation regarding the unlawful dispensing of opioids, avoiding a potential multi-billion dollar penalty.<\/li>\n<li><strong>S&amp;P Global Ratings<\/strong> affirmed <strong>Portugal\u2019s \u2018A+\/A-1\u2019<\/strong> rating with a <strong>positive outlook<\/strong>, citing the economy&#39;s ability to withstand energy price shocks from the <strong>Strait of Hormuz<\/strong> disruptions.<\/li>\n<li><strong>Jordan\u2019s \u2018BB-\/B\u2019<\/strong> credit rating was maintained with a <strong>stable outlook<\/strong>, bolstered by a <strong>16% year-on-year increase<\/strong> in cargo volumes at the <strong>Port of Aqaba<\/strong> as regional trade is rerouted.<\/li>\n<li>Tensions escalated in the <strong>Strait of Hormuz<\/strong> as the <strong>IRGC Navy<\/strong> accused the U.S. of lying about the waterway&#39;s status, claiming &quot;absolute dominance&quot; while the U.S. maintains the passage is open.<\/li>\n<li><strong>Japan\u2019s Foreign Minister<\/strong> and top officials reiterated support for <strong>ICC President Tomoko Akane<\/strong> following U.S. sanctions, navigating a delicate diplomatic balance with the <strong>Trump administration<\/strong>.<\/li>\n<\/ul>\n<h2>Corporate and Sovereign Credit Updates<\/h2>\n<p><strong>Walmart (<a href=\"\/stock\/WMT\">WMT<\/a>)<\/strong> has concluded a long-standing legal battle with the <strong>U.S. Department of Justice<\/strong>, agreeing to a <strong>$50 million settlement<\/strong> without admitting liability. The settlement resolves allegations that the retailer\u2019s pharmacies violated the <strong>Controlled Substances Act<\/strong> by filling thousands of invalid opioid prescriptions. <em>The payout is significantly lower than the billions of dollars in civil penalties initially sought by the DOJ in 2020.<\/em> Walmart confirmed the settlement amount was already accrued as of <strong>July 31, 2026<\/strong>, and described the financial impact as <strong>immaterial<\/strong> to its operations.<\/p>\n<p><strong>S&amp;P Global Ratings<\/strong> affirmed <strong>Portugal\u2019s<\/strong> unsolicited <strong>\u2018A+\/A-1\u2019<\/strong> sovereign credit ratings, maintaining a <strong>positive outlook<\/strong>. The agency noted that while disruptions in the <strong>Strait of Hormuz<\/strong> have driven energy prices higher, the impact on the Portuguese economy should remain <strong>moderate<\/strong> in 2026. This resilience is attributed to Portugal&#39;s <strong>low energy intensity<\/strong> and the continued acceleration of capital expenditure under the <strong>Next Generation EU (NGEU)<\/strong> program.<\/p>\n<p>In the Middle East, <strong>Jordan<\/strong> saw its <strong>\u2018BB-\/B\u2019<\/strong> ratings affirmed with a <strong>stable outlook<\/strong>. Despite regional volatility, Jordan has benefited from a <strong>16% surge<\/strong> in cargo at the <strong>Port of Aqaba<\/strong> as shippers seek alternatives to the troubled <strong>Strait of Hormuz<\/strong>. S&amp;P projects Jordan&#39;s economy to grow by <strong>2.5% in 2026<\/strong>, supported by strong remittance flows which rose <strong>14.3%<\/strong> in the first half of the year.<\/p>\n<h2>Geopolitical Tensions in the Strait of Hormuz<\/h2>\n<p>The status of the <strong>Strait of Hormuz<\/strong> remains a point of intense international dispute. The <strong>Islamic Revolutionary Guard Corps (IRGC) Navy<\/strong> issued a statement calling U.S. claims that the waterway is open an <strong>&quot;obvious lie.&quot;<\/strong> Iranian officials asserted that the strait is closed to any vessels transiting without coordination with Tehran, characterizing U.S. reports as attempts to <strong>manipulate global <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">oil prices<\/a><\/strong>.<\/p>\n<p>Conversely, the <strong>U.S. White House<\/strong> and <strong>Central Command<\/strong> maintain that American forces have effectively secured the passage. According to U.S. data, nearly <strong>1,500 commercial vessels<\/strong> have moved through the strait under U.S. protection, transporting approximately <strong>750 million barrels of crude oil<\/strong>. <em>The conflicting narratives have kept energy markets on edge, though analysts suggest the localized nature of supply chains has mitigated the broader economic shock for European nations like Portugal.<\/em><\/p>\n<h2>Diplomatic Strains Over International Justice<\/h2>\n<p><strong>Japan<\/strong> is navigating a complex diplomatic rift with the <strong>United States<\/strong> over sanctions imposed on <strong>International Criminal Court (ICC) President Tomoko Akane<\/strong>. Prime Minister <strong>Sanae Takaichi<\/strong> and the Foreign Ministry described the sanctions as <strong>&quot;very unfortunate&quot;<\/strong> and <strong>&quot;incompatible&quot;<\/strong> with Japan&#39;s position.<\/p>\n<p>Despite the pressure from the <strong>Trump administration<\/strong>, Tokyo has reaffirmed its &quot;unwavering support&quot; for the ICC, which is the world&#39;s permanent court for prosecuting war crimes. <strong>Chief Cabinet Secretary Minoru Kihara<\/strong> stated that Japan remains in close communication with Akane to provide &quot;any necessary support,&quot; even as the U.S. labels the court <strong>&quot;fatally politicized.&quot;<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Walmart (WMT) reached a $50 million settlement with the U.S. Department of Justice (DOJ) to resolve civil litigation 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