After Iran rejected the U.S. demand to reopen the Strait of Hormuz as part of a temporary ceasefire, President Donald Trump threatened that the "entire country" of Iran can be taken out in one night.
"The entire country can be taken out in one night, and that night might be tomorrow night,"the president said.
Trump made the remarks while addressing the White House news conference on Apr. 6. He also said the people of Iran would be "willing to suffer" the destruction of their infrastructure "for their freedom."
The president had earlier given a deadline of 8 p.m. ET on Apr. 7 (Tuesday) for Iran to reopen the Strait of Hormuz or the U.S. will attack the West Asian country's massive power infrastructure.
Related: U.S. Treasury unveils new partners for Trump Accounts
How markets reacted
The West Texas Intermediate (WTI) crude oil's price immediately jumped from $112 a barrel to $114 a barrel and the Brent crude oil's price jumped from $107 a barrel to $110 per barrel.
The Dow Jones Industrial Average (DJIA), Nasdaq Composite, and S&P 500 stock indices gave up their gains and turned lower for the day.
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DJIA: 46,522.32 points
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Nasdaq: 21,909.513 points
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S&P 500: 6,587.45 points
Gold's price also fell from the intraday peak of $4,663 per ounce to $4,651 per oz. Silver's price also dropped from $75 per oz to below $73 per oz.
The crypto market similarly priced in Trump's Iran threat pretty quickly.
Bitcoin (BTC), which hit north of $70,000 earlier today, fell to $69,777.28. Ethereum (ETH) also fell from $2,165 to $2,143.67. XRP also slipped from $1.36 to $1.34.
This story was originally published by TheStreet on Apr 6, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
