Markets Buckle After US Strikes Iran, Dow Sinks 400 Points

CENTCOM Confirms New U.S. Strikes Against Iranian Targets

On Tuesday, Sept. 1, 2026, U.S. Central Command (CENTCOM) took to X and said:

“Today at 12 p.m. ET, U.S. forces began striking Islamic Revolutionary Guard Corps (IRGC) targets in Iran. The strikes follow recent attempted attacks by the IRGC against commercial shipping in the Strait of Hormuz and against American service members deployed to the region.”

The news follows the strikes that occurred on Aug. 30, when the U.S. attacked Iranian targets for reportedly placing mines in the Strait of Hormuz. CENTCOM did not disclose how many targets were hit, but initial reports say Qeshm Island, Bandar Abbas, Chabahar and Konarak may have been some of the locations. The cities are specifically situated near the Hormuz waterway, where Iranians monitor ships going through the passage.

Trump Warns Iran a Much Larger Attack Is ‘Waiting in the Wings’

Following the strikes, Trump took to Truth Social and gave some details. The U.S. President said:

“The United States is, as we speak, striking Iranian Targets near the Strait of Hormuz. The strikes are large and powerful, and in retaliation for the Iranians’ failed attempt at adding sea mines to the Strait, which currently has no mines (They have been completely removed or detonated!), and the Iranians shooting eight missiles, all successfully knocked down, at our Military Base in Jordan.”

Trump added that if the “failed Nation of Iran retaliates,” they will be “hit again at a much harder and higher level.” He then added that even that type of strike would not be as large as another massive attack that is “waiting in the wings.”

“There will be very little left of the Islamic Republic of Iran,” Trump emphasized.

Markets Sink as Oil Jumps and Bitcoin Slides Toward $77K

Markets did not like the news. Brent crude surged to $96.70 per barrel and U.S. equities are broadly lower. All four of the U.S. major indexes were in the red by 2 p.m. EDT, and the Dow Jones shed 401 points. Precious metals are also taking a hit despite their usual safe-haven reputation. Gold is down 2.35%, or $104, to $4,342 per ounce, while silver is down 2.86%, or $1.90, to $64.51 per ounce. Bitcoin prices have also softened on the news, with BTC trading near the high-$76,000 range, down 2.5% over the past 24 hours.

If bears get their way, $75,000 bitcoin prices could be the next area of support and maybe even lower.