Composite: 68.3% (Nearly Crash)
Regime: risk off
Geopolitical: 54.9% (Risky)
Market insight: The Financial Composite Gauge registered 72.8% (Nearly Crash), the Overall Gauge hit 68.3% (Nearly Crash), and the Geopolitical Layer is 54.9% (Risky). The primary drivers are US-Iran hostilities and a potential Hormuz Strait blockage. This divergence suggests financial stress is outpacing the current geopolitical risk assessment.