Stocks tumble after Trump vows to hit Iran ‘extremely hard’ in coming weeks
Stocks plummeted globally on Thursday following a stern warning from President Donald Trump in a televised address, promising to launch severe attacks on Iran in the upcoming weeks. The Dow Jones Industrial Average took a hit, dropping 600 points, or 1.3%, while the S&P 500 and Nasdaq also experienced declines of 1.2% and 1.6%, respectively.
The downward trend extended to Asian and European markets as well. Tokyo’s Nikkei 225 index slipped by 2.3%, and the pan-European STOXX 600 fell by 1.3%. This widespread selloff was a direct response to the escalating tensions between the U.S. and Iran.
Conversely, oil prices surged amidst concerns of a potential supply shortage due to the ongoing conflict between the U.S. and Iran. U.S. oil prices spiked by over 10% on Thursday, reaching $112 per barrel.
In parallel, gasoline prices in the U.S. also saw a sharp increase, averaging at $4.08 per gallon. This marked a significant jump of $1.09 within just one month, according to data from AAA.
As the situation continues to unfold, it is crucial to stay informed and monitor the developments closely. This story is still evolving, and updates will be provided as they become available.
