Trump News Highlights: Stocks plummet, oil jumps as Trump says ‘US will continue to attack Iran’

Emmanuel Macron on Thursday slammed Donald Trump, warning that his stance could undermine NATO by raising doubts about the United States’ commitment to the alliance’s security, as per Blomberg.

Alliances like NATO are defined by what isn’t said — that is, the trust that underlies them,” Macron told reporters in Seoul, where he is on a state visit as part of an East Asia tour.

“If you cast doubt every day about your commitment, you undermine that trust,” he said, adding that US officials were fueling uncertainty by signaling “they won’t do this or that or the other.”

“When you have signed a treaty, you don’t question it every morning or keep saying whether you will act,” Macron added. “You say nothing — and the day there is a problem, you are there."

Dozens of countries explored options to resume crucial oil shipments through the Strait of Hormuz on Thursday after Donald Trump pledged more aggressive strikes on Iran, driving oil prices higher and adding to consumer costs, as per Reuters.

Trump indicated that military operations would be stepped up without specifying a timeline for ending hostilities, prompting retaliatory threats from Tehran and causing stock markets to fall.

US stock-index futures tumbled over 1% on Thursday after Donald Trump’s tough remarks dampened hopes for a quick reopening of the Strait of Hormuz and an early resolution to the Middle East conflict, as per Bloomberg.

S&P 500 futures were down 1.4% as of 7:32 am in New York, while Nasdaq 100 contracts fell 1.9%, pressured by declines in major tech stocks. Brent crude rose above $109 per barrel, the Cboe Volatility Index climbed to around 27, and the yield on 10-year US Treasuries increased to 4.37%.

On Thursday, Iran threatened “crushing” attacks on the US and Israel, launching missiles at Tel Aviv following Donald Trump’s pledge to bomb the Islamic republic “back to the Stone Ages", as per AFP.

The conflict, which began over a month ago with US-Israeli strikes on Iran, has spread across the Middle East and disrupted the global economy, affecting hundreds of millions worldwide.

In a prime-time White House address, Trump said the US was “very close” to achieving its objectives but cautioned that attacks would intensify if Iran did not reach a negotiated settlement.

Iran fired additional missiles at Israel and Gulf Arab states on Thursday, showing its continued capability to target regional neighbours, even as US President Donald Trump claimed the threat from Tehran had been largely eliminated, as per AP.

The attacks, combined with Iran’s control over the Strait of Hormuz, have disrupted global energy supplies, extending the impact well beyond the Middle East. Analysts say this leverage has become Tehran’s most significant strategic advantage in the conflict. Meanwhile, Britain plans to convene nearly three dozen countries to discuss reopening the strait once hostilities subside.

A New York-based think tank said on Thursday that remarks by US President Donald Trump suggest he may be willing to leave the Strait of Hormuz issue unresolved, effectively shifting the burden to other nations.

"Trump's message was that the United States can sustain its own economic and energy ecosystem, while countries dependent on regional exports will either have to buy from the United States or manage the Strait themselves," the Soufan Center wrote, reported AP.

"While Trump explicitly thanked US allies in the Persian Gulf for their cooperation and allyship, an expedited US withdrawal without securing the Strait will leave many of these countries, whose economies are dependent on energy exports, in the lurch."

Emmanuel Macron on Thursday slammed Donald Trump, warning that his stance could undermine NATO by raising doubts about the United States’ commitment to the alliance’s security, as per Blomberg.

Alliances like NATO are defined by what isn’t said — that is, the trust that underlies them,” Macron told reporters in Seoul, where he is on a state visit as part of an East Asia tour.

“If you cast doubt every day about your commitment, you undermine that trust,” he said, adding that US officials were fueling uncertainty by signaling “they won’t do this or that or the other.”

“When you have signed a treaty, you don’t question it every morning or keep saying whether you will act,” Macron added. “You say nothing — and the day there is a problem, you are there.”

Oil prices surged while global equity and bond markets declined on Thursday after Donald Trump dampened hopes of a quick end to the Middle East conflict, as per Reuters.

Brent crude rose more than 7% to cross $109 per barrel after Trump said in a prime-time address that the US would strike Iran “extremely hard” in the coming weeks, signaling further escalation.

Donald Trump used his first major address since initiating military action in Iran to reassure Americans that his objectives would be achieved “shortly,” while urging a wary public to give him more time, according to AP.

In his Wednesday evening speech, Trump struck a more measured tone compared to recent days, as global markets remain volatile and Iran continues to mount retaliatory strikes on infrastructure in Gulf countries and on US bases.

Indian equity benchmarks fell sharply in early trade on Thursday after investors reacted to comments by US President Donald Trump on the escalating Middle East conflict. Both the BSE Sensex and NSE Nifty 50 dropped more than 2% within minutes of opening, wiping out gains from the previous session’s relief rally, as per ANI.

The Sensex was at 71,616.03, down 1,518.29 points or 2.08% at 9:16 am, while the Nifty 50 stood at 22,216.90, falling 462.50 points or 2.04%. The decline comes after a brief rebound in the previous session, when the Nifty had surged 348 points and the Sensex had gained 1,187 points.

Markets globally fell sharply after Trump's aggressive tone on Iran and the persisting uncertainty over the reopening of the Strait of Hormuz. The Sensex and the Nifty 50 crashed more than 2% during Thursday's session.

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Israel Defense Forces said its air defence systems were responding to an Iranian missile attack on Thursday, shortly after Donald Trump addressed the American public on the Middle East war.

As per AFP, the military said in a statement it had "identified missiles launched from Iran toward the territory of the State of Israel" for the third time in just more than three hours, adding that "defensive systems are operating to intercept the threat".

Air raid sirens were heard across northern Israel, as per military's Home Front Command, and there were no immediate reports of any casualties or damage.

Hopes for a quick resolution to the Middle East conflict dimmed on Thursday after Donald Trump pledged intensified strikes on Iran, pushing oil prices back above $100 per barrel and impacting consumers worldwide.

Stocks declined while the dollar strengthened after Trump indicated that military operations would ramp up, without providing the timeline investors had been expecting for a potential end to the conflict.

Donald Trump did not comment on any negotiations with Iran or refer to the April 6 deadline he had set for reopening the Strait of Hormuz, a key route for global oil and gas shipments. He had earlier warned of strikes on Iran’s energy infrastructure if the passage was not reopened.

Iran’s army chief Maj. Gen. Amir Hatami warned Thursday that should the US military land in the Islamic Republic, “not a single person” will survive among the invaders, according to AP.

He made the comment in a piece aired by Iranian state television.

“The shadow of war must be lifted from our country and there must be security for everyone, because it is not possible for places to be safe and our people to be unsafe,” he said.

Stocks extended their losses and oil advanced after President Donald Trump said the US would hit Iran extremely hard over the next two to three weeks.

Asian shares fell 0.9% and US equity-index futures fell 0.8%. Treasury yields rose over three basis points. Brent crude jumped 4% to over $105 a barrel as Trump said the attacks will bring Iran back to stone age. Trump said if there’s no deal with Iran, the US will hit electricity plants.

Oil prices jumped nearly 7% on Thursday after Donald Trump said the United States would continue its attacks on Iran without giving a clear timeline for when the conflict might end. Brent crude futures rose $6.84, or 6.8%, to $108 per barrel by 0643 GMT. U.S. West Texas Intermediate crude futures were up $6.40, or 6.4%, to $106.52 per barrel.

The gains followed an earlier fall of more than $1 in both benchmarks prior to Trump's speech to the nation.

He said, "We are going to finish the job, and we're going to finish it very fast. We're getting very close," and added that US military had nearly achieved its goals in the conflict which would end in two to three weeks, but giving no specifics.

Indian government bond prices dropped on the first trading day of the new fiscal year, pushing the 10-year yield higher for the twelfth session in a row. This comes as oil climbed after President Donald Trump said attacks on Iran would continue, with traders cautious ahead of a debt sale.

The benchmark 6.48% 2035 bond yield was up about 4 bps at 7.0734% by 11:15 a.m. IST, its highest since May 21, 2024. It ended at 7.0345% in the previous session.

The yield rose 37 basis points in March and 45 bps in fiscal 2026 despite 100 basis points of rate cuts by the RBI.

Copper and other industrial metals fall as Trump reiterate a threat to attack Iran’s civilian infrastructure if negotiations fail to end the war. Though he also said the military operation was “very close” to completion, the risks around escalation sent copper, aluminum and zinc lower. Oil futures surged.

Metals markets have been shaken by supply disruptions from the Middle East and the growing prospect of an oil shock that batters the global economy and crushes demand. Copper’s decline in March was its biggest monthly drop since 2022.

Trump made no mention of Nato in his address, a notable omission after reportedly telling The Telegraph he was considering withdrawing the US from the alliance.

He described Nato as a “paper tiger” and said leaving was “beyond reconsideration.” However, any such move would face significant legislative hurdles, making its absence from the speech particularly striking.

Bitcoin fell in Asian trading on Thursday after President Donald Trump signalled tougher strikes on Iran, dampening hopes of a quick end to the conflict.

The cryptocurrency dropped about 2.5% to around $66,500, while Ether slid up to 4.5% and Solana declined over 5%. Broader markets also weakened, with MSCI’s Asia Pacific index down 1.7% and Brent crude rising above $106 a barrel.

“Stock and commodity markets continue to whipsaw according to Trump’s latest comments,” said Orbit Markets’ Caroline Mauron, noting Bitcoin is largely tracking equities despite reduced sensitivity in recent weeks.

Senator Ted Cruz expressed strong support for President Donald Trump’s handling of the Iran conflict, arguing that US actions are nearing a decisive outcome.

In a post on X, Cruz said the country was “on the cusp of ending Iran’s nuclear blackmail,” which he believes will make America “much, much safer.”

He also endorsed Trump’s framing of the military campaign, stating that “Operation Epic Fury is an investment in the future of our children and our grandchildren.”

Republican Senator Lindsey Graham praised President Donald Trump’s address on the Iran conflict, calling it a “compelling explanation” for US military action against what he described as an “evil regime.”

In a post on X, Graham said the speech was “the best speech I could’ve hoped for,” adding that it clearly outlined US objectives and progress. He noted that the country was “2-3 weeks from reaching our military objectives, which is the destruction of Iran’s missile and nuclear weapon programs.”

Graham emphasised that “the most compelling and biggest takeaway of all” was Trump’s commitment to using military force to dismantle Iran’s economy, ensuring “they will never go back to their old ways.”

Oil prices climbed after President Donald Trump signalled further escalation in the Iran war, dimming hopes of a quick resolution and prolonging disruptions in the Strait of Hormuz.

Brent rose above $106 a barrel, while WTI neared $104 after Trump warned the US would hit Iran “extremely hard” in the coming weeks.

“Nothing in Trump’s speech alters the underlying market reality… flows remain materially constrained,” said Westpac’s Robert Rennie, who expects Brent to trade between $95 and $110.

Indian equity benchmarks fell sharply in early trade on Thursday, as investors reacted to US President Donald Trump’s address on the escalating Middle East conflict, wiping out gains from the previous session’s relief rally.

The BSE Sensex dropped 1,518.29 points, or 2.08 per cent, to 71,616.03 at 9:16 am, while the NSE Nifty 50 declined 462.50 points, or 2.04 per cent, to 22,216.90.

Australian Prime Minister Anthony Albanese on Thursday said the initial objectives of the Iran war appear to have been achieved, questioning the purpose of continued military action and urging de-escalation.

Speaking in Canberra, he noted that US-Israeli strikes had significantly weakened Iran’s air force, navy and defence infrastructure. “Now those objectives have been realised it is not clear what more needs to be achieved or what the end point looks like,” he said, warning that a prolonged conflict would deepen global economic strain.

With Australia heavily dependent on fuel imports and holding about 37 days’ supply, the government has moved to cushion the impact of rising prices by cutting petrol taxes and offering $680 million in business loans. Albanese reiterated that Australia is not directly involved in the war.

President Donald Trump used his Wednesday address to play down the United States’ reliance on the Strait of Hormuz, a critical oil and gas shipping route, as the rest of the world bears the brunt of energy supply disruptions and surging prices.

“The United States imports almost no oil through the Hormuz Strait and won’t be taking any in the future. We don’t need it,” Trump said in his televised speech.

Stocks fell and the dollar rose as markets stayed jittery after President Donald Trump warned the US would hit Iran “extremely hard” within two to three weeks

Trump's threats to bomb Iran "back to the Stone Ages where they belong" drew sharp criticism from some lawmakers.

"He’s talking about a country of 90 million people," Representative Yassamin Ansari, a Democrat from Arizona, says. "Vile, horrifying, evil."

On X, US Defence Secretary Pete Hegseth wrote simply: "Back to the Stone Age."

US President Donald Trump said in his speech that he intended to explain why Epic Fury was "necessary for the safety of America" and the world.

Listing terrorist attacks and other acts carried out by Iran or its proxies over the past 47 years, Trump called the regime running the country thuggish and murderous, pointing also to a recent crackdown on protests in the country, which killed thousands of citizens.

Leaders like this cannot be allowed to obtain a nuclear weapon, he said.

“I will never let that happen,” he said.

During his address to the nation, a group of military leaders sat in the Cross Hall of the White House and watched, BBC said.

Among them was Gen Dan Caine, Chairman of the US Joint Chiefs of Staff, and Secretary of Defence Pete Hegseth.

Secretary of State Marco Rubio was also present, along with members of Trump's cabinet, the BBC saud

Republican South Carolina Senator Lindsey Graham told Fox News that Iran has the option to make a deal or face more bombing.

"President Trump outlined targets that would destroy the ability of this regime to survive over time," Graham said, referring to Trump's threats to strike Iran's electric grid.

Senate Minority Leader Chuck Schumer lambasted the speech before adding, "Donald Trump’s actions in Iran will be considered one of the greatest policy blunders in the history of our country".

Schumer, a Democrat from New York, says Trump is "failing to articulate objectives, alienating allies, and ignoring the kitchen table problems Americans are facing".

Donald Trump, in his speech, invoked the 2020 US assassination of Iranian military commander Qasem Soleimani, whom he calls "the father of the roadside bomb".

Trump said if Soleimani were still alive, "we would have had probably a different conversation tonight but you know what we would still be winning and winning big".

Melissa Toufanian, who was a senior adviser to former Secretary of State Antony Blinken, spoke to BBC and said that she thinks American audiences are likely "more confused" about the Iran war after Trump's speech.

"I don't think there's a single American who was watching that speech today who is going to feel like there is a clear plan, like there is a clear timeline, that we are safer and more secure," she says.

As stated in my announcement of Operation Epic Fury, our objectives are very simple and clear, US President said on Thursday.

“We are systematically dismantling the regime's ability to threaten America or project power outside of its borders. That means eliminating Iran's Navy, which is now absolutely destroyed, hurting their air force and their missile program at levels never seen before, and annihilating their defence industrial base. We've done all of it. Their Navy is gone. Their Air Force is gone. Their missiles are just about used up or beaten. Taken together, these actions will cripple Iran's military, crush its ability to support terrorist proxies, and deny it the ability to build a nuclear bomb,” he said.

Ivo Daalder, former US ambassador to Nato, told BCC that Donald Trump's speech did not answer many critical questions including why the US is still carrying out military action in Iran if Trump says Iran's nuclear capabilities, navy, and missiles have been destroyed.

"I don't see why we think we should be safer... and I think the American public have a similar sense of doubt," Daalder told BBC

US President Donald Trump said on Thursday that the US was unstoppable as a military force and that the war was "a true investment" for American children and the future generation.

Trump spoke about wars in the 20th and 21st centuries, saying they went on for years, but this conflict has gone on for only 32 days.

Americans are no longer under threat from Iranian aggression, and the spectre of nuclear blackmail, and the US will be safer, stronger, and more prosperous than it has ever been, the President said as he concluded his remarks.

Donald Trump has concluded his 19-minute-long address to the nation. "Tonight, every American can look forward to a day when we are finally free from the wickedness of Iranian aggression and the spectre of nuclear blackmail," he said in his address on Iran war.

The US president promised that when the war is over the United States will be safer, stronger, more prosperous and greater than it has ever been before.

Donald Trump said on Thursday that the US is "systemically dismantling the Iran regime's ability to threaten America or project power outside of their borders".

Iran's navy, air force and missile production capabilities have been destroyed, the US President said.

"Tonight I am pleased to say that these core strategic objectives are nearing completion," he says. He says he has travelled to the Dover Air Force base to honour the 13 American soldiers who died in the war.

US President Donald Trump thanks US allies in the region, including Israel and the Gulf states. "They've been great, and we will not let them get hurt or fail in any way, shape or form," he says.

Donald Trump said that Iran has attacked many of these countries, and says this underscores that it should never have a nuclear weapon.

Donald Trump says Iran did not give up on its nuclear programme and was fast developing long-range missiles. They were "right at the doorstep" of developing a nuclear weapon, he says.

Donald Trump calls the nuclear deal negotiated by former US President Barack Obama a mistake. He said he was honoured to terminate it.

President Trump thanked the US military for the operation to seize Venezuelan leader Nicolás Maduro. He said it was praised all over the world.

US President adds that the US and Venezuela are getting along well, describing them as "venture partners", and that they are no longer dependent on Middle Eastern oil but are for their allies.

Donald Trump marks one month since the beginning of Operation Epic Fury against Iran. "Tonight Iran's navy is gone, their air force is in ruins, their leaders, most of them… are now dead," he says in the address.

US President said Iran's ability to launch missiles and drones is dramatically curtailed.

Donald Trump said US enemies are losing and America is winning in the war.

US Secretary of State Marco Rubio said in an interview that the President won't allow “fake negotiations to be used as a delay tactic” amid the ongoing war with Iran.

“We'll always be prepared to talk — but we're not going to allow that, or the failure of talks, to impede our ability to defend this country and protect this country from a real threat,” Rubio said in an interview to Fox News.

Trump said on Tuesday the military could end its Iran offensive in two to three weeks and would shift responsibility for the Strait of Hormuz to countries that rely on it for oil and shipping. Tehran, the US President said, did not have to make a deal as a prerequisite for the war to end.

Fox News reports Trump's speech is set to outline that ground troops might be needed to take uranium in Iran