The Trump Administration’s Iran War Justifications Keep Changing
The U.S. president and his officials can’t get their story straight.
Last updated: 2026-03-03 23:12:36 ET
Pulse AI Brief
Updated Mar 3, 2026 10:01 PM ET
South Korea's Kospi plunged 7% as Asia-Pacific markets extended a broad selloff tied to the escalating U.S.-Iran conflict. The VIX hit its highest level since November, signaling acute investor anxiety, while Jim Cramer urged retail investors to hold positions rather than panic-sell into the volatility.
Risk-off sentiment is hammering equities globally, with energy stocks and defense names diverging sharply from the broader tape. Trump himself acknowledged the war will push oil prices higher for Americans — a rare admission of economic cost that adds to stagflation concerns already weighing on rate expectations.
A prolonged conflict threatens to reprice the entire macro environment, with energy supply disruption through the Strait of Hormuz the central tail risk. Markets are now pricing in a scenario where the Fed is forced to hold rates even as growth slows.
The U.S. president and his officials can’t get their story straight.
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Mick Mulvaney also said prediction markets, by offering contracts on events such as wars, could represent a security risk for the U.S.
Motorists are already on high alert for any changes to prices for gasoline at the pump as the U.S. conflict with Iran spreads beyond last weekend’s ...
If the war in Iran fails to pay off politically, will he cut his losses or double down?
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