The post Trump’s $1.5T Defense Budget Push, Iran Warning Send Stocks, Gold, and Bitcoin Lower – Market Updates Bitcoin News appeared on BitcoinEthereumNews.com.

Oil Hits $111 a Barrel as Trump Speech Crushes April 1 De-escalation Rally Trump delivered the speech on Wednesday evening, warning Iran would be brought “back to the Stone Ages” within two to three weeks. The address erased gains built in the prior session on reports of possible de-escalation and a potential reopening of the Strait of Hormuz. Investors had priced in a quick end to the conflict that began Feb. 28, 2026. That trade unwound real fast. West Texas Intermediate (WTI) crude climbed as high as $111.50 per barrel intraday, a gain of roughly 11%. WTI now stands at $103.6 at the day’s close. Brent crude reached approximately $108 per barrel and sits there at press time. Fuel-sensitive stocks absorbed the hit immediately. Delta Air Lines, United Airlines, American Airlines, Carnival, Royal Caribbean, and Norwegian Cruise Line each fell between 2% and 4%. Brent crude on Thursday via tradingview.com. The Dow Jones Industrial Average shed about 0.3%, closing near the 46,400 level after ending April 1 at 46,565.74. The S&P 500 dropped roughly 0.1% to 6,582.68, trading between a low of 6,474.94 and a high of 6,601.91 on volume of approximately 2.62 billion shares. The Nasdaq Composite also fell about 0.1%, settling near 21,800. Trump around 1 p.m. Eastern time on April 2, via Truth Social. Tesla led declines among large-cap technology names, falling over 5% on weak delivery figures. Most of the other Magnificent Seven stocks also moved lower. Chip and memory names stayed volatile as concerns around artificial intelligence spending continued to circulate. Trump to Push for Defense Spending Defense and aerospace stocks held up. The Trump administration’s proposed $1.5 trillion defense budget for fiscal year 2027, reported by Bloomberg, continues to draw capital into the sector. Boeing and Caterpillar maintained momentum from the prior session. The…

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Filed under: News - @ April 2, 2026 11:26 pm