U.S. President Donald Trump said in a national address on the 1st (local time) that he would strike Iran "extremely hard for two to three weeks and send it back to the Stone Age." The remarks marked an abrupt reversal from the previous day, when he had raised expectations of an end to hostilities by saying he would "leave within two to three weeks."
In the address delivered from the White House in Washington, D.C., Trump warned that "if no deal is reached during this period, we will strike Iran's power plants very hard." He signaled willingness to also target Iranian oil facilities, which had not been struck so far.
Trump added that "the objectives of the military operation against Iran are getting close to being achieved." Foreign media analyzed that Trump was pressuring Iran to reach an agreement — including on strait passage — within the next two to three weeks, rather than pursuing escalation.
Before the national address, at a separate White House event, Trump singled out South Korea — alongside Europe, Japan and China — for not responding to requests for troop deployment. "We have 45,000 troops there and they haven't helped," he said, expressing strong displeasure.
Markets, which had anticipated a ceasefire, plunged into panic immediately after Trump's remarks. On the 2nd, the KOSPI (Korea Composite Stock Price Index) closed at 5,234.05, down 244.65 points (4.47%), while the KOSDAQ index fell 59.84 points (5.36%) to close at 1,056.34. The steep declines triggered program trading sell-side sidecar halts on both exchanges.
Asian markets also fell, with Japan's Nikkei 225 dropping 2.38% and Taiwan's TAIEX losing 1.82%. The won-dollar exchange rate rose 18.4 won to close at 1,519.7 won for the week, while international oil prices surged, with West Texas Intermediate (WTI) crude futures for May delivery trading above $111 per barrel, up more than 10%.