Top stories for the morning: Trump hasn't comforted markets, Globalstar rises on rumors of Amazon deal

US President Donald Trump has warned of a possible escalation of conflict with Iran in the next 2-3 weeks, driving oil prices above $105 a barrel. Globalstar shares soared more than 15% on news of talks with Amazon about a potential acquisition that could strengthen Kuiper's satellite project in competition with Starlink. On these and other topics - in our review of key events for the morning of April 2.

US President Donald Trump has said that the war with Iran will last another 2-3 weeks and is in its final stages, promising to "finish the job quickly," CNBC reports. He also threatened to strike Iran "extremely hard" in the coming weeks. In a televised address from the White House, Trump also emphasized the successes of the military operation, but markets reacted negatively, with Asian stock indexes reversing downward after rising, and investors beginning to reconsider the risks associated with the conflict, the channel notes.

Republican Senator Lindsey Graham supported the White House's position, calling the speech compelling and saying the US is close to destroying Iran's missile and nuclear programs. Republican Senator Ted Cruz also said the end of "nuclear blackmail" is near. At the same time, Democratic Senator Mark Warner criticized the US president's speech, pointing to the lack of a clear strategy and emphasizing the economic consequences of the war, including rising fuel and commodity prices, as well as continuing security and global economic risks, CNBC points out.

Oil rose after Donald Trump warned of a possible escalation of the conflict with Iran in the next 2-3 weeks, CNBC reports. WTI futures rose more than 4% to $104 a barrel, while Brent rose about 7% to more than $108. Trump linked the price rise to Iran's attacks on oil tankers and said the U.S. would hit Tehran "very hard," while noting that negotiations were ongoing.

Fidelity International portfolio manager George Efstathopoulos said that markets were waiting for either signals of the end of the war or further escalation, and now the second scenario is being realized, intensifying the flight from risk. The closure of the Strait of Hormuz, through which about 20% of the world's oil and gas supplies pass, has virtually stopped traffic, and analysts do not expect it to recover anytime soon.

Globalstar shares rose more than 15% in over-the-counter trading on April 2, later they slowed down a bit. This is how the markets reacted to the Financial Times report about negotiations with Amazon on the possible purchase of the satellite company, CNBC writes. According to sources, the parties are discussing the details of the deal, complicated by the fact that Apple owns about 20% of Globalstar after investing $1.5 billion in 2024.

The potential deal could strengthen Amazon's Kuiper satellite project, which is meant to compete with SpaceX's Starlink. Amazon has already launched about 200 satellites and plans to deploy a network of 7,700 vehicles, but faces delays, while Starlink already has more than 10,000 satellites and more than 9 million users.

Pop Mart shares are down more than 30% over the past month and nearly 60% from their peak, losing about $33 billion in capitalization, after weak reporting and increased reliance on the Labubu line, Bloomberg writes.

Deutsche Bank analyst Sammy Xu downgraded Pop Mart's stock, citing weak sales in China and overseas, rising inventories and revised earnings forecasts. Attempts to diversify its intellectual property have so far failed, with the Labubu series contributing about 40% of revenue, while other brands are showing weak sales. Despite the buybacks and low valuation, investors doubt the company's ability to repeat past success.

- Japan's broad Topix index was down 1.6 percent, while the Nikkei 225 was down 2.4 percent.

- Hong Kong's Hang Seng index was down 1.5 percent, while mainland China's CSI 300 index was down 1 percent.

- In South Korea, the Kospi index was down 4.3 percent and the Kosdaq was down 4.9 percent.

- Australia's S&P/ASX 200 slipped 1 percent.

- Futures on the S&P 500 were down 1.2%, while futures on the Nasdaq Composite were down 1.6%. Exchange-traded contracts on the Dow Jones Industrial Average were down 1%.

This article was AI-translated and verified by a human editor