U.S. Stocks Open Lower on Trump’s War Escalation Threat; Globalstar Jumps 11% on Amazon Buyout Rumor

Tiger Newspress04-02

US stocks tumbled on Thursday after President Donald Trump indicated that the Iran war would continue, sending oil prices higher as well.

The Dow Jones Industrial Average lost 608 points, or 1.3%.

Trump delivered an address Wednesday night, providing updates on the Middle East conflict. Though he said that the U.S. is “getting very close” to ending the Iran war, Trump added that the nation would “hit” Tehran “extremely hard.”

“Over the next two to three weeks, we’re going to bring them back to the stone ages where they belong,” the president said.

Globalstar shares surged 11% after a Financial Times report that Amazon.com Inc. is in talks to acquire the satellite provider. While Iridium rose 5% on report of Globalstar takeover talks.

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