Renowned economist and market commentator Peter Schiff is raising alarms over President Donald Trump’s sudden reversal on Truth Social, questioning its impact on markets and strategy.
Trump Threatens Iran, Then Reverses Before Market Open
On Saturday, President Trump warned on Truth Social that the U.S. would “hit and obliterate” Iran’s power plants if the Strait of Hormuz remained closed for more than 48 hours.
By Monday morning, he announced a shift in approach, stating that the U.S. had conducted “very good and productive conversations” with Iran and would delay all planned strikes on energy infrastructure for five days.
Reacting to the reversal, Schiff posted on X, “Trump used Truth Social to dramatically escalate the war on Saturday, only to do a complete 180 just before the stock market opened on Monday.”
He added, “Is this Trump being a master negotiator, market manipulation, or just an indication that the President has no idea what he is doing?”
Trump Approval Drops As Iran Tensions Rise
Last week’s U.S. military action in Iran pushed oil prices higher and raised concerns about food and farming costs.
Voter opposition appeared to affect Trump’s standing, with an Emerson College poll conducted March 16–17 showing his approval rating at 42%, down from 43% in February and marking his lowest since December.
His disapproval rating fell to 51%, down from 55% the prior month.
Meanwhile, the odds of a U.S. ground invasion of Iran surged on the cryptocurrency prediction market Polymarket.
The probability of troops entering Iran by the end of April rose from 42% to 57% in a week, while the chance of a year-end invasion increased to 72% from 63%.
Nearly $23 million was wagered, with only land operations qualifying. The platform has faced criticism for profiting from conflicts.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock/ Joey Sussman
Recent Comments