Global Markets Plummet Following Trump's Address, US Futures and Gold Prices Tumble

Global Markets Tumble After Trump's Address

Asian equities fell sharply following President Trump's address, with broad losses across major regional markets reflecting heightened geopolitical risk and risk-off sentiment. The Nikkei 225 in Japan dropped 1.5%, South Korea's Kospi declined 2.6%, and Hong Kong's Hang Seng index slipped about 1%, while other regional bourses including Shanghai, Singapore, Taipei and Sydney also traded lower as volatility spread across Asia.

US equity futures extended the global selloff after the speech, with the Dow Jones and S&P 500 futures sliding deeper into negative territory in after-hours trade. The Nasdaq 100 fell around 1.3%, as investors reacted to the absence of clear de-escalation signals and the prospect of continued uncertainty around the Iran conflict.

Market Reactions

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Safe-haven and commodity markets showed mixed reactions, with gold prices falling below $4,700 per ounce and silver dropping under $73 per ounce, as traders recalibrated positions across asset classes amid renewed volatility triggered by the address.

Markets had also been digesting sharply conflicting rhetoric from President Trump, who described the US economy as "the hottest country anywhere in the world by far," citing "no inflation, record setting investments coming into the United States, over $18 trillion and the highest stock market ever," even as broader global risk assets moved lower.

Sentiment in markets was further shaped by commentary on the reaction, with conservative commentators and analysts saying the lack of clarity on an end to hostilities kept volatility elevated. Stephen Innes of SPI Asset Management said the speech "spoke of objectives met, but not of resolution," adding that markets were reacting to "unfinished business," which he described as "oxygen for volatility," as oil prices surged on expectations that the conflict may not be close to ending.

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Separately, equities across Asia came under sustained pressure, with Seoul losing about 3% after its earlier surge, underscoring the sharp reversal in sentiment following Trump's remarks and the renewed focus on escalation risk across global markets.