June S&P 500 E-Mini futures (ESM26) are down -1.27%, and June Nasdaq 100 E-Mini futures (NQM26) are down -1.65% this morning as doubts over a quick resolution to the Middle East conflict dampened sentiment and fueled a spike in oil prices.
In a primetime address on Wednesday, President Trump said that the U.S. is “going to hit [Iran] extremely hard over the next two to three weeks. We’re going to bring them back to the stone ages, where they belong.” Mr. Trump provided little clarity on when the war would end and said U.S. military objectives would be achieved “very shortly.” He also said allies that rely on Middle East oil shipped through the Strait of Hormuz should “go to the strait and just take it, protect it, use it for yourselves.”
