President Donald Trump said Wednesday that “core strategic objectives are nearing completion” in Iran and US forces would “finish the job” within two to three weeks, in his first prime-time address since launching Operation Epic Fury on Feb. 28.
The entire market had positioned for de-escalation. What it got was ambiguity — and a selloff across every major asset class.
Broad Risk-Off Across Markets
Markets expected de-escalation. That did not happen. Brent crude surged past $105, oil topped $102 on Trump’s Iran power plant threat, gold fell below $4,700/oz, and S&P 500 futures dropped 0.54% while Nasdaq futures fell 0.66%. The 10-year Treasury yield jumped to 4.36%, heading toward 4.40%. Bitcoin slid to $67,336 — down 0.9% in 24 hours after briefly touching $69,135.
Trump said the Strait of Hormuz would “open up naturally” after the war but offered no concrete mechanism, instead urging allies to “just take it, protect it, use it for yourselves.” He singled out South Korea, Japan, and China by name. South Korea’s KOSPI fell 2% in immediate response, with defense stocks surging.
Iran showed no signs of conceding. Foreign Minister Abbas Araghchi told Al Jazeera that “the trust level is zero,” while Iran’s parliament continues drafting legislation to formalize a stablecoin-and-yuan toll system at the strait — charging vessels up to $2 million per transit.
The gap between Trump’s optimism and ground reality remains the key risk for crypto markets pricing in a swift resolution.
This is a developing story.
