Oil rallies, stocks tumble after Trump says US will 'hammer' Iran further
Markets reacted sharply as oil prices jumped and equities declined after President Trump said US forces would continue strikes on Iran, while offering no fix for the closed Strait of Hormuz.
Oil prices spiked and stock indexes fell after President Donald Trump said US forces would 'hammer' Iran for another two to three weeks. He offered no solution for the closure of the Strait of Hormuz, whose shutdown has disrupted global shipments and intensified market concerns.