President Donald Trump said the Iran war is “very close” to completion but warned strikes could intensify within 2–3 weeks. Markets turned risk-off: S&P 500 futures -0.9%, Nasdaq -1%, US 10Y yields +3bps to 4.35%, DXY +0.15%. Asia equities fell—Nikkei -1.7%, KOSPI -2%, Hang Seng -0.6%, Tech -1%. Oil stayed elevated as Hormuz remains constrained; energy stocks rose (CNOOC +1.4%, PetroChina +1.5%), while airlines dropped (China Eastern -5%). Gold -2%, silver -3%, KRW weakened past 1,520/USD.