Trump Highlights Unexpected Market Stability During Iran Conflict

(MENAFN) US President Donald Trump said Tuesday he did not anticipate financial markets would remain as steady as they have during the ongoing war with Iran, while also hinting that federal support could be extended to the struggling carrier Spirit Airlines.

Speaking in an interview, Trump noted that he had expected a far more severe downturn in equities along with a dramatic surge in oil prices at the outset of the conflict.

“If you would have told me that oil is at $90 as opposed to $200, I would be frankly surprised,” said Trump, adding that he had thought the Dow and the S&P 500 could fall as much as 20%.

He pointed out that the S&P 500 has mostly recovered to levels seen prior to the conflict, calling the outcome stronger than expected despite weeks of turbulence driven by the intensity of the fighting.

According to Trump, adjustments in global supply chains and the use of alternative sourcing routes helped limit disruptions in energy markets.

“Boats are finding other sources. They’re going up to Texas and Louisiana. They’re going to Alaska, they’re going to other places. It’s an amazing phenomenon,” he said.

Markets initially declined during the early phase of the war amid uncertainty, but later rebounded following a ceasefire announcement nearly two weeks ago. Oil prices spiked sharply at one stage, with US crude surpassing $112 per barrel before easing. Meanwhile, gasoline costs remained elevated above $4 per gallon, as indicated by data from the American Automobile Association.

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