(Updates after Trump's address)
By Ankur Banerjee
SINGAPORE, April 2 (Reuters) - Stocks fell, the dollar
firmed and oil rose on Thursday after U.S. President Donald
Trump said Washington's "core strategic objectives" in the Iran
war were nearing completion but stopped short of providing a
clear outline of when the conflict would end.
The prospect of the end to the month-long U.S.-Israeli war
with Iran has lifted global stocks and knocked the dollar off
its recent highs in the past two sessions after a brutal March
where soaring oil prices sent risk assets into a tailspin.
But Trump, in his prime-time speech, said the U.S. will
strike Iran "extremely hard" over the next two to three weeks
and hit the country into the "Stone Ages."
That sent stocks retreating, with U.S. stock futures
down 0.67% while European futures were 0.1% lower.
MSCI's broadest index of Asia-Pacific shares outside Japan
slid 0.75%. Japan's Nikkei reversed
course to trade down 0.79% in volatile trading.
Analysts and investors were focusing on when and how the
Strait of Hormuz, a major fuel shipment route, would reopen and
ease the bottleneck in supply that has hit Asian economies
hard.
Iran has fired repeatedly on Gulf countries, some home to
U.S. bases, and is using the Strait of Hormuz, which carries a
fifth of global oil and liquefied natural gas, as leverage.
Higher energy prices in March stoked fears of global
inflation with worries about slowing growth also sapping
sentiment.
The U.S. dollar has been the haven of choice among investors
during the tumult and the greenback rose against most currencies
after the speech.
The euro weakened 0.25% to $1.156. The front-month
Brent contract for June rose over 3% to $104.75 per
barrel.