Volatility hits Wall Street and U.S. oil tops $110 a barrel
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Trump's vow to continue attacking Iran triggered market volatility and crude oil surged past $110 a barrel.
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President Donald Trump's Wednesday address, in which he vowed continued U.S. attacks on Iran and offered no clear timeline for ending Middle East conflict, triggered broad market volatility on Thursday. U.S. crude oil surged past $110 a barrel as traders reacted to the prospect of prolonged regional instability and potential supply disruptions. The market moves reflect investor concerns that escalating U.S. military involvement in the Middle East could worsen inflation and drag on economic growth. Higher oil prices typically ripple through the broader economy, raising costs for energy, transportation, and manufacturing. The uncertainty over Trump administration policy in the region is fueling the kind of risk-off trading that often accompanies geopolitical tensions.
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