Oil jumps, stock rally fades on Trump's war threat
US President Donald Trump warned of a potential escalation in the conflict with Iran, causing oil prices to jump and stocks to fall. The remarks undermined expectations of an imminent resolution to the five-week-old Middle East conflict, leading to increased volatility in global markets.
Oil prices jumped after US President Donald Trump warned of a potential escalation in the conflict with Iran. Brent crude rose 6.6% to near $108 a barrel. Stocks and bonds fell, with Asian shares down 2.5% and S&P 500 Index futures dropping 1.4%. The US president said the Strait of Hormuz would reopen once hostilities subside, but provided no clear timeline. The conflict has already roiled financial markets, pushing several equity gauges into correction territory. Trump's speech increased uncertainty, leading to a sell-off in stocks and bonds.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.