President Trump's Wednesday night speech on Iran sent shockwaves through global markets, abruptly ending a vigorous rally and triggering widespread losses. U.S. stock futures indicated significant losses at the market open, while overseas markets also declined. The speech's impact was particularly pronounced in oil markets, where futures for Brent crude surged back to $108 a barrel after briefly dipping below $100. This sharp rebound in oil prices reflects heightened geopolitical risk perceptions.

Markets will observe Good Friday with no activity, resuming Monday. The speech's timing and content appear to have fundamentally altered short-term market sentiment overnight.