Stocks slide as Trump steps up pressure on Iran, oil in focus: Live Updates
President Trump turned up the heat on Iran, calling for its Supreme Leader to surrender, stocks slipped further on his comments, as oil continues its climb and silver prices hit a fresh high. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
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Traders work on the floor of the New York Stock Exchange in New York City (Reuters)
Stocks closed lower on Tuesday as tensions between Israel and Iran escalate.
The Dow Jones Industrial Average ended the session down 304.12 points, or 0.72%, while the S&P 500 and the Nasdaq Composite fell 0.84% and 0.91%, respectively.
Iran and Israel's air war, which began on Friday when Israel attacked Iran's nuclear facilities, has raised concerns that the conflict could create bottlenecks for oil exports from the oil-rich Middle East.
President Donald Trump on Tuesday said that the U.S. knows where Iran’s Supreme Leader Ayatollah Ali Khamenei “is hiding,” and although he is an “easy target,” the U.S. won’t kill him – “at least not for now.”
Trump wrote on his Truth Social platform that his administration’s “patience is wearing thin” as the conflict between Iran and Israel escalates.
“We know exactly where the so-called ‘Supreme Leader’ is hiding,” Trump wrote. “He is an easy target, but is safe there - We are not going to take him out (kill!), at least not for now. But we don’t want missiles shot at civilians, or American soldiers. Our patience is wearing thin."
Minutes later, Trump posted again, writing, “UNCONDITIONAL SURRENDER!”
FOX News' Stephen Sorace and Reuters contributed to this report
Trading Economics
Oil prices ticked higher hitting $75 per barrel as President Donald Trump upped the pressure on Iran after warning residents of Tehran, Iran to evacuate. His comments, posted on Truth Social, were made midday Tuesday.
"We know exactly where the so-called “Supreme Leader” is hiding. He is an easy target, but is safe there - We are not going to take him out (kill!), at least not for now. But we don’t want missiles shot at civilians, or American soldiers. Our patience is wearing thin. Thank you for your attention to this matter!"
Getty Images
While gold prices have stolen the show reaching an all-time high, silver prices have been quietly rising hitting $37 Tuesday, the highest in over a decade, putting its annual gain at over 25%. The precious metal is more used across industrial industries.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| SLV | $33.84 | 0.81 | 2.47 |
| SIVR | $35.50 | 0.76 | 2.19 |
| AGQ | $50.94 | 2.46 | 5.07 |
ETFs that track the metal including iShares Silver Trust, abrdn Physical Silver Shares ETF, and ProShares Ultra Silver are rising bucking the downtrend of the broader market.
The Federal Reserve began day one of its two day meeting Tuesday. While policymakers are expected to keep rates unchanged, Chair Jerome Powell will likely be grilled on inflation, the pressure from President Trump to cut interest rates and whether he'll complete his term which ends in May 2026. Trump has floated a view that he is ready to name a new head of the Fed.
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President Donald Trump abruptly left the G7 summit Monday firing off a warning to the people of Iran.
"Iran should have signed the “deal” I told them to sign. What a shame, and waste of human life. Simply stated, IRAN CAN NOT HAVE A NUCLEAR WEAPON. I said it over and over again! Everyone should immediately evacuate Tehran!" he posted on Truth Social.
ExxonMobil CEO Darren Woods , speaking to Fox's Brett Baier, weighed in on the conflict between Iran and Israel and what it means for oil prices. For now, he is largely positive on the market with one exception.
Shares of the oil giant have gained over 4% this year.
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