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US stocks tumble following Trump’s renewed threat against Iran
Wall Street saw a downturn in early trading on Tuesday as oil prices climbed, following President Donald Trump’s renewed threats to launch extensive bombings on Iran unless it complies with U.S. demands in the ongoing conflict.
In a provocative social media post, Trump stated, “A whole civilization will die tonight,” reinforcing his previous commitment to destroy key civilian infrastructure, such as bridges and power plants, should Iran fail to reopen the Strait of Hormuz for oil-tanker passage.
Anticipation of a ceasefire had buoyed stocks on Monday, but the Dow Jones Industrial Average experienced a 0.7 percent decline early Tuesday, falling to 46,368.33.
Within the first ten minutes of trading, the S&P 500 saw a 0.5 percent drop to 6,576.59, and the Nasdaq Composite Index, known for its technology stocks, decreased by 0.6 percent to 21,859.32.
According to David Waddell, the chief investment strategist at Waddell & Associates, the markets are interpreting Trump’s aggressive language as a strategic move in negotiations.