Trump Stirs Market, Iran Keeps Up Strikes, More
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Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made.
And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast.
We're up early every weekday, keeping an eye on what's happening across Europe and around the world.
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News when you want it with Bloomberg News Now. I'm Nathan Hager.
And I'm Alexis Christophorus. Here are the stories we're following today.
Alexis, we begin with a major speech from President Donald Trump as the U.S. war with Iran nears the end of its five-week mark. In a primetime address heard live on Bloomberg Radio, the president defended his decision to go after Tehran's nuclear and missile programs more than a month ago.
For years, everyone has said that Iran cannot have nuclear weapons. But in the end, those are just words if you're not willing to take action when the time comes.
And the president said the action he's taken is close to achieving that objective. But before that, he says there will need to be more action.
We're going to hit them extremely hard over the next two to three weeks. We're going to bring them back to the Stone Ages where they belong.
At the same time, President Trump says discussions with Iran's regime are ongoing, but he did not lay out a plan to convince Tehran to allow passage through the Strait of Hormuz. The president had this to say to allies struggling to get fuel through the Strait.
Number one, buy oil from the United States of America. We have plenty. We have so much. And number two, build up some delayed courage. Should have done it before. Should have done it with us, as we asked. Go to the Strait and just take it.
President Trump also says the loss of 13 U.S. service members in the conflict has only stiffened his resolve to finish the job.
And Nathan, the speech is getting an anxious reaction in markets and in Washington, D.C. Bloomberg White House correspondent Jeff Mason says it's the kind of address presidents typically give at the start of a conflict.
He launched this war four and a half weeks ago, essentially with a social media announcement that And, yes, he has spoken to reporters and in that way addressed the American public over these weeks. But this was his first time coming out and laying out the logic for going into the war and laying out his next steps.
And Bloomberg This Weekend co-host Christina Ruffini says the president may have been sending a warning to allies as much as Iran.
All those GCC countries, all those Gulf allies, all the Asian countries that depend heavily on oil coming through that strait, some of them who thought they had very close ties to the United States, are going to be in trouble if the U.S. is not there to finish the job. And that's going to fall to some sort of coalition of other nations.
And you can catch Bloomberg this weekend every Saturday and Sunday at 7 a.m. Eastern on Bloomberg Radio and Television and the Bloomberg Business app.
And as the war enters its second month, Alexis, reports from Iranian state media and residents indicate continuing attacks on civilian infrastructure, including homes, factories and electric facilities. Iran's Red Crescent Society, which is part of the International Humanitarian Network, says U.S.-Israeli airstrikes have damaged or destroyed more than 90,000 homes, about half of them in Tehran.
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