Stock markets opened lower Thursday after President Trump delivered a primetime address regarding ongoing military operations with Iran, with the Dow Jones falling more than 600 points as investors reacted to uncertainty about the conflict's duration and scope.

Trump's Wednesday evening speech to the nation addressed the current military situation with Iran but left key questions unanswered about timeline and strategy for resolving the conflict. The president indicated that military operations would continue, contributing to market volatility as investors sought clearer guidance on the path forward.

Oil prices surged to $110 per barrel amid concerns about potential disruptions to shipping routes, particularly through the strategically important Strait of Hormuz. French President Emmanuel Macron commented that freeing the Hormuz Strait through military means would be unrealistic, highlighting international concerns about the conflict's regional implications.

Separately, tensions emerged over NATO commitments, with Trump reportedly describing the alliance as a "paper tiger" and suggesting that withdrawing America from the defense treaty was "beyond reconsideration." Macron criticized these statements, arguing that Trump's comments weaken NATO by casting doubt on U.S. commitment to the alliance.

The market reaction reflected broader investor uncertainty about geopolitical stability, with financial analysts noting that the lack of a clear resolution timeline for the Iran situation contributed to the sell-off across major indices.