Stocks Skyrocket, Gas Hits $4 as Trump Announces Impending End to War

The global stock market skyrocketed yesterday after Trump confirmed that the US will pull out of Iran within the next two to three weeks, whether a deal to reopen the Strait of Hormuz is reached or not.

The move comes as the American war in Iran reaches a standstill, with both sides launching strikes but neither side making major progress or necessarily "winning" the conflict. American sentiments towards the war are rapidly changing– more than 59% of Americans believe the US made the wrong decision to use military force in Iran, and Trump's approval ratings have slipped again to a mere 37%.

Recently, Trump claimed that negotiations are taking place and recently confirmed that the US was dominating in Iran, but Iran has denied both allegations and taken a stance of their own.

Now, Trump has announced that the war will end within the next two weeks, whether a deal with Iran is made or not. Many experts view this announcement as one of defeat– the original goal of the United States when they attacked Iran was to swiftly destroy the regime, obliterate Iran's nuclear program, and secure the region.

Instead, they have done almost the opposite. The regime is just as strong, even with Khamenei gone, and the Middle East has been destabilized. Just months ago, the region had achieved some sort of peace with a Gaza ceasefire, and attacks of any kind were no longer taking place. With US intervention, the Strait of Hormuz has been effectively shut down, the Red Sea is now at risk, Israel has invaded Lebanon once again, and Middle Eastern economies have been crippled.

Now, many believe that after making the situation worse, the US will back out, attempting to protect their own economy while leaving the world to deal with the repercussions. Supplies of just about every global item that comes from the Middle East – including fertilizer, oil, and natural gas – are running low across the globe, and prices continue to increase.

Following Trump's announcement, gas prices in the United States hit an average of $4.02, crossing the $4 mark for the first time since August 2022. Even if the US backs out of Iran, the move will not fix the situation in the Strait of Hormuz, allowing Iran to maintain effective control over the area. An American departure from the Middle East with the strait in its current state would force Middle Eastern nations to create deals of their own with Iran to allow their tankers through.

Nevertheless, while gas prices have risen, the stock market skyrocketed on Monday after Trump's announcement of an impending end to the war. The Dow Jones Index jumped more than 1,100 points, rising 2.49%, while the S&P 500 leaped 2.91%. The Nasdaq Composite soared 3.83%, ending a rather grim quarter on a positive note.

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Quote of the Day (Gracious Quotes): To finish first, you must first finish.

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In a Sentence: Their genteel upbringing shaped the way they viewed the world.

Image credit to Al Jazeera