Oil prices spiked and stocks sank on Thursday after Donald Trump reiterated that US forces would hammer Iran for another two to three weeks but offered no solution to the closure of the Strait of Hormuz that has crippled global markets.
Investors appeared to be unimpressed with the US president's much-anticipated address to the nation, in which he again called on countries that rely on the waterway for their energy supplies to reopen it themselves.
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