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Market Score 95 Bearish

Trump's Iran Threat Sparks Market Turmoil: Stocks Drop, Oil Jumps 10%

Apr 02, 2026 12:26 UTC
SPX, CL=F, ^VIX
Immediate term

U.S. stocks plummeted and oil prices surged 10% following President Trump's vow to strike Iran 'extremely hard', reversing a recent rally fueled by hopes for an end to the conflict.

  • Trump's prime-time address reversed a two-day stock rally
  • S&P 500 (SPX) and other indices fell sharply
  • Brent crude (CL=F) surged 10% due to supply fears
  • VIX (^VIX) volatility index spiked
  • Energy and defense sectors were most impacted

President Donald Trump's prime-time address on Monday triggered a sharp sell-off in U.S. equities and a dramatic rise in oil prices. The S&P 500 (SPX) and other major indices fell sharply as investors reacted to the heightened risk of military action in the Middle East. Meanwhile, Brent crude futures (CL=F) jumped over 10%, reflecting fears of disrupted oil supplies from the region. The VIX volatility index (^VIX) spiked, indicating increased market uncertainty. The reversal came after a two-day rally in stocks that had been driven by optimism over a potential resolution to the conflict. Energy and defense sectors were among the most affected, with energy stocks declining as oil prices rose and defense contractors seeing increased demand for military equipment.

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