Trump Warns Iran Will Be ‘Bombed’ as Stocks Slide and Oil Prices Surge

TLDR

The US and Iran exchanged airstrikes for a second straight day, with President Trump warning of more attacks if Iran does not accept a peace deal. US stock futures rose slightly on Thursday after the overnight strikes, recovering from heavy losses the day before. Iran struck US military bases and allies in Kuwait, Bahrain, and Jordan, and claimed to have blocked shipping in the Strait of Hormuz. Oil prices climbed on fears the Strait of Hormuz could remain closed, raising inflation concerns. The SpaceX IPO, expected to be the biggest in history, is set for Friday’s market debut.

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The US launched a second round of airstrikes against Iran late Wednesday into early Thursday, marking the latest escalation in a conflict that has rattled global financial markets. US Central Command confirmed the strikes, calling them an act of self-defense following the downing of a US Apache helicopter in the Strait of Hormuz.

President Trump warned in a Fox News interview that the US was prepared to escalate further if Iran did not immediately agree to a peace deal. He said earlier Wednesday that Iran had taken too long to negotiate and would “pay the price.”

The UNITED STATES of AMERICA CONTROLS the Strait of Hormuz — NOT Iran. pic.twitter.com/DbPPYKy5Ef

— The White House (@WhiteHouse) June 10, 2026

Iran fired back, striking US military bases and allied installations across Kuwait, Bahrain, and Jordan. Explosions were reported in all three countries. Iran also claimed it had blocked all ship traffic through the Strait of Hormuz, though CENTCOM disputed that claim.

Markets Whipsaw on Conflict News

US stock futures edged higher Thursday morning after the overnight strikes, with Dow futures up 0.3%, S&P 500 futures up 0.4%, and Nasdaq futures up 0.3%. The modest gains came after a brutal Wednesday session.

E-Mini S&P 500 Jun 26 (ES=F)

On Wednesday, stocks fell sharply across the board as the conflict intensified. The S&P 500 dropped 1.62%, the Dow fell 1.87%, and the Nasdaq slid 1.98%. Markets had also been hit by a fresh inflation report showing prices rising quickly.

Oil prices jumped Thursday as fears grew that the Strait of Hormuz, a critical route for global crude shipments, could remain disrupted. The spike in oil prices added to inflation concerns already weighing on investors.

Trump addressed the oil situation directly, saying he “liked the inflation” and claiming the US had secretly been keeping oil flowing through Hormuz, totaling around 100 million barrels.

SpaceX IPO and Oracle Earnings Add to the Mix

Oracle posted better-than-expected quarterly earnings after the bell Wednesday, but the stock fell as cloud sales came in below what investors had hoped to see.

The Producer Price Index report was due Thursday, which would give markets more data on how fast prices at the wholesale level are rising following May’s hot inflation print.

All eyes are on Friday, when SpaceX is expected to make its stock market debut. The IPO is widely expected to be the largest in history, providing a potential bright spot for markets navigating a difficult week.

Tensions between Israel, Lebanon, and Hezbollah also continued to simmer in the background. The Israeli military warned early Thursday of new projectile launches from Lebanon, adding another layer of uncertainty to an already tense geopolitical picture.

With both the US and Iran far apart on key issues — including Iran’s nuclear program and control of the strait — there is no clear sign a deal is near.

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