On Tuesday, the tech-heavy Nasdaq led losses among major U.S. stock indexes, sliding 1%. That decline slightly outpaced the S&P 500, while the Dow Jones dropped by 369 points.
U.S. President Donald Trump has projected that “Operation Epic Fury” could last four to five weeks, while still emphasizing that America has the “capability to go far longer.” Meanwhile, Iran has fired missiles at its neighbors, widening the conflict’s scope in the Middle East and jeopardizing the flow of oil through the Strait of Hormuz.
On Tuesday, Trump indicated from the White House that the U.S. continues to hammer Iran, targeting more leaders in the wake of Supreme Leader Ayatollah Ali Khamenei’s death.
“There was another hit today on the new leadership, and it looks like that was pretty substantial,” Trump said. “So they’re getting hit very hard.”
“If Brent stays above $80 for more than a few sessions, the re-inflation narrative hardens and the March rate cut that was already a long shot becomes impossible,” he wrote, in reference to the Federal Reserve’s decision at its next policy meeting.
