Market Intelligence Brief: Yesterday’s Rally Reversed as “Hit Hard” Follows “Leaving Very Soon”
April 2, 2026 - Trump’s speech stating the US will hit Iran hard over the next two to three weeks has reversed Tuesday’s rally. The Nasdaq failed to test its resistance level. Futures are lower across the board. The seesaw continues. The market received the answer to the question posed at yesterday’s close: whether “leaving very soon” would be followed by confirmation or revision. The answer has arrived as a revision. In a speech on Wednesday, Trump stated that the US would hit Iran hard over the next two to three weeks in an attempt to prevent Tehran from obtaining a nuclear weapon. Tuesday’s equity rally, driven by the most decisive withdrawal signal of the conflict period, has given way to Thursday morning’s broad-based decline. The Nasdaq failed to test its resistance level before reversing. US futures are lower across the board. The dollar has strengthened overnight, with GBPUSD trading approximately 100 pips lower since midnight. The characterisation of equity futures seesawing a...