Dow Crashes 400 Points as US Strikes Iranian Targets Again
The US military launched airstrikes on Iranian targets on Tuesday, September 1, 2026, in retaliation for recent attempts by the Islamic Revolutionary Guard Corps (IRGC) to attack commercial shipping in the Strait of Hormuz and American service members deployed to the region.
CENTCOM confirmed that the strikes began at 12 p.m. ET and targeted IRGC sites on Qeshm Island, Bandar Abbas, Chabahar, and Konarak. These locations are situated near the Hormuz waterway, where Iranians monitor ships passing through the passage.
In a statement, President Donald Trump said that the strikes were 'large and powerful' and warned Iran that if they retaliate, they will be hit again at a 'much harder and higher level.' He also mentioned that another massive attack is 'waiting in the wings,' which would leave little of the Islamic Republic of Iran.
The news sent shockwaves through global markets, with stocks plummeting. The Dow Jones Industrial Average fell 401 points, while Bitcoin prices dropped to around $76,000. Gold and silver also took a hit, down 2.35% and 2.86%, respectively. Brent crude surged to $96.70 per barrel.