About that presidential address...

President Trump's address on the Iran war failed to reassure markets, prompting a sharp reversal: stocks fell while oil prices rose.

Markets React to Presidential Address

In his speech, Trump outlined intense U.S. military strikes against Iran over the next two to three weeks but offered no clear end date for the conflict. He downplayed concerns over the Strait of Hormuz, stating it would "open up naturally" once the war ends, as Iran would need to sell oil to rebuild. Markets, however, interpreted this as prolonged uncertainty. Pre-speech, stocks had rallied and oil dipped on hopes of de-escalation; post-speech, oil surged while equities dropped. Nova Safo from Marketplace noted that oil prices are set globally, so U.S. consumers face supply shock risks regardless. Iran has selectively allowed some tankers through, raising questions about whether partial access becomes the norm without intervention.