US equity futures fell sharply on Thursday after President Donald Trump warned in a national address that Washington would “hit” Iran “extremely hard” within two to three weeks, even suggesting the country could be pushed back to the “Stone Ages.” At the same time, Trump said the US was close to achieving its core objectives in the conflict, calling on allies to help secure shipping through the Strait of Hormuz, while emphasizing that the US no longer “needs it.”
The more cautious tone followed a strong session on Wednesday, when Wall Street extended gains as oil prices slipped back below USD 100 per barrel. Travel, mining, and technology stocks advanced, led by SanDisk Corp., which jumped about 9%. Gold producers including AngloGold Ashanti and Newmont also rose, supported by bullion’s fourth consecutive daily increase.
On the downside, Nike tumbled more than 15% on a weak outlook, and energy stocks eased alongside the pullback in crude. Trading will conclude early on Thursday ahead of the Good Friday market closure, with weekly jobless claims in focus as investors position for Friday’s March nonfarm payrolls report.
