(Il Sole 24 Ore Radiocor) - Milano, 2 apr - US shares opened lower after comments from president Donald Trump dampening hopes for a quick end to the war with Iran.

In a national address last night, Trump said military aims in Iran would be met 'very shortly' but added the US will hit Iran 'extremely hard' in the next 2-3 weeks, saying 'we're going to bring them back to the stone ages, where they belong.' Iran replied that 'as far as the Iranian nation is concerned, we are absolutely determined and resolute to continue our defense against this aggression ... we have no choice but to fight back fiercely.' Trump also repeated that opening the Strait of Hormuz, a critical chokepoint for global oil trade, was a problem for other countries.

Oil prices jumped with WTI futures up more than 13% and Brent up more than 8%.

On the stocks front, shares in big tech names like Nvidia, Tesla and Alphabet all fell while big oil, including Exxon and Conoco, rose.

The stock market is closed tomorrow for Easter holiday.

Just after the opening bell the Dow Jones was down 527.66 points, or 1.13%, at 46,038.08 points, the S&P 500 was down 78.09 points, or 1.19%, at 6,497.23, while the Nasdaq was.

down 365.84 points, or 1.68%, at 21,475.11.

(RADIOCOR) 02-04-26 15:41:39 (0456) 5 NNNN