Oil rises and Asian stocks fall after Trump’s address

By AP 2 April 2026, 7:17 am

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A person looks at an electronic stock board showing Japan's Nikkei index at a securities firm Thursday, April 2, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)

Oil rises more than 4% and Asian stocks fall after US President Donald Trump says in his first national address since the Iran war began that the US will keep hitting Iran very hard.

Trump also says the United States will “finish the job” in Iran and that military operations could wrap up soon.

Tokyo’s Nikkei 225 is down 1.4% to 53,004.81 in early Asia trading today. South Korea’s Kospi loses 3.4% to 5,292.36. Hong Kong’s Hang Seng falls 0.8% to 25,082.59.

US futures are down more than 0.7%.

Oil prices are sharply higher following Trump’s remarks. Brent crude, the international standard, jumps 5% to $106.22 per barrel. Benchmark US crude rises 4.2% to $104.36 a barrel.