According to CoinMeta, Trump confirmed that the United States is carrying out “powerful and large-scale” strikes on Iranian targets near the Strait of Hormuz, following Iran’s attempts at maritime mining and the launch of eight missiles at American bases in Jordan. Trump warned that any Iranian retaliation would meet with a “more forceful” response. Fears of an escalation in the war led to a sell-off in the markets; today, Bitcoin fell by 0.9%, the S&P 500 index fell by 0.7%, NASDAQ fell by 0.9%, and the Dow Jones index fell by 0.8%.