Trump’s ‘economic D-Day’ claims first victim: Not Iran, but US markets

The US and Israel’s war on Iran has upended global financial and energy markets. United States President Donald Trump has threatened a crushing financial campaign against Iran, which he has referred to as “economic D-Day”, as the war on Tehran continues to drag on. But on Thursday, the first casualty appeared to be US markets. As US crude oil nudged up from its Wednesday closing price of $86.20 per barrel to $86.70, the US stock market made its worst losses in three weeks. Meanwhile, the US announced its total debt has surpassed a record $40 trillion this week.

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Scoop News DeskIran · Published Friday, August 21, 2026 at 1:47 PM UTCUpdated Saturday, August 22, 2026 at 11:49 PM UTC

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US Senator Mark Warner, vice chairman of the Senate Intelligence Committee, criticised ongoing US involvement in the conflict with Iran in a post on X on Thursday. “When will Trump walk away from this disastrous and deadly war?” he asked. This indicates that the price of US bonds is falling as investors avoid them, signalling a lack of confidence in the US. The latest Trump administration rhetoric comes as the critical Strait of Hormuz in the Gulf remains closed to shipping, upending global energy and financial markets.

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