US EditionVolatility Hits Wall Street and U.S. Oil Tops $110 a Barrel
S&P 500 futures fell 1.7% and U.S. crude jumped 10% as Trump gave no ceasefire timetable and markets braced for prolonged fighting.
- On Wednesday, President Donald Trump delivered a prime-time address on the Iran war, pledging aggressive action over the next two to three weeks while offering no clear timeline for de-escalation or ceasefire.
- Investors who had hoped for signals of swift resolution reacted negatively to Trump's vow to hit Iran "extremely hard" in coming weeks and his renewed threats against Iranian electric facilities.
- U.S. crude oil surged 10% to $110 per barrel Thursday, while S&P 500 futures dropped 1.7% and Nasdaq 100 contracts slid 2% in premarket trading following the address.
- Adam Turnquist, chief technical strategist for LPL Financial, warned that prolonged conflict increases risks of sustained pressures on inflation, global growth, interest rates, and equity valuations.
- With the Strait of Hormuz largely shut since the war's onset, analysts caution that until a clear agreement emerges, downward pressure on economic growth and upward pressure on headline inflation will persist.
12 Articles
12 Articles
Volatility hits Wall Street and U.S. oil tops $110 a barrel
The unsettled trading follows a national address late Wednesday from President Donald Trump, where he vowed the U.S. will continue to attack Iran and failed to offer a clear timetable for ending the conflict in the Middle East.
Oil Prices Jump to About $110 a Barrel After Trump’s Iran Comments; End to DHS Shutdown in Sight
Oil prices climbed to around $110 a barrel on April 2 after President Donald Trump said the United States would continue attacks on Iran. And the United Kingdom is hosting a virtual meeting of around 40 countries to discuss options for reopening the Strait of Hormuz. The United States is not due to attend. An end to the longest Department of Homeland Security (DHS) shutdown in history is on the horizon. Trump and congressional GOP leaders have r…
Geopolitical tensions again dominate the global financial markets. The continuation of the war between the United States, Israel and Iran, combined with the aggressive statements of the American president...
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