U.S. airstrikes on Iranian military targets sent the Dow Jones down 401 points and the S&P 500 49 points lower on Sept. 1, 2026. Oil, gold, silver and bitcoin also sold off as traders priced in escalating conflict around the Strait of Hormuz.
The Dow Jones Industrial Average dropped 401 points on Tuesday after U.S. forces struck Iranian military targets, pulling all four major U.S. indexes into the red. The S&P 500 sat 49 points lower as the fresh strikes reignited geopolitical risk around the Strait of Hormuz.
New Strikes Follow Days of Rising Tension
U.S. Central Command said forces began striking Islamic Revolutionary Guard Corps targets in Iran at 12 p.m. ET on Tuesday, following attempted IRGC attacks on commercial shipping in the Strait of Hormuz and against American service members in the region. The strikes came two days after the U.S. hit Iranian targets on Aug. 30 for reportedly placing mines in the strait.
Trump Warns of a Larger Response
President Donald Trump described the strikes as large and powerful in a Truth Social post, saying they answered Iran's failed attempt to mine the strait and eight missiles fired at a U.S. military base in Jordan that were all intercepted. He added that a further Iranian retaliation would be met at a much harder and higher level, warning: According to Trump: "There will be very little left of the Islamic Republic of Iran."
Oil, Metals and Bitcoin Slide With Stocks
Brent crude surged to $96.70 a barrel as traders priced in supply risk from the Hormuz corridor. Gold fell 2.35%, or $104, to $4,342 an ounce, giving up its usual safe-haven bid. Silver dropped alongside it, down 2.86%, or $1.90, to $64.51 an ounce. Bitcoin also softened, trading near the high-$76,000 range and down 2.5% over the prior 24 hours; $75,000 could become the next area of support if the selling continues.
Investors now await Iran's response, with all four major U.S. indexes still lower on Tuesday afternoon.
Source: Bitcoin News
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