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Stocks, oil slip ahead of US threat of economic war against Iran

Oil prices fell for a second day as traders judged the risk of renewed military strikes on Iran to have receded after the US threatened broader economic sanctions instead. Treasury Secretary Scott Bessent declared an 'economic D-Day', but markets found relief in the softer-than-expected measures and positive Pakistan-mediated talks, while attention turns to Nvidia earnings and the Jackson Hole summit.

6 outlets · 6 articles 1d ago

Trump: Iran 'completely collapsing' as Treasury Sec. discusses 'economic D-Day'

US Treasury Secretary Scott Bessent announced a new campaign of secondary sanctions dubbed Operation Economic Outcast, aiming to sever Iran's global financial ties nearly six months into the conflict. President Trump declared Iran 'completely collapsing' as the measures target oil revenues, digital assets and trading partners. Iranian officials rejected the steps as ineffective and vowed preparedness to counter them.

1 outlet · 1 article 2d ago