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Truth Social video. Trump says 'massive' strike against Iran underway - bitcoin plunge offers a glimpse of how markets could react 'We're going to destroy their missiles,' says Trump A plume of smoke rises following a reported explosion in Tehran on Feb. 28, 2026. Two loud blasts were heard in Tehran on Feb. 28 morning by AFP journalists, and two plumes of thick smoke were seen over the center and east of the Iranian capital. Investors roiled for weeks by AI disruption and then hotter-than-expected inflation on Friday faced a fresh level of stress after the U.S. and Israel launched attacks on Iran to destabilize its nuclear ambitions. "A short time ago, the United States military began major combat operations in Iran. Our objective is to defend the American people by eliminating imminent threats from the Iranian regime, a vicious group of very hard, terrible people," President Donald Trump said in a video message published on his Truth Social account early Saturday. Cryptocurrencies, which trade 24/7, offered the first glimpse of how investors might react, until Asian markets open on Sunday. Bitcoin (BTCUSD) slid 3.1% to $63,561, a level not seen since early February. Oil (CL.1) (BRN00) prices jumped on Friday as traders began to sense strikes could be nearing, with Trump suggesting to reporters that the window for diplomacy with Iran could be closing. The S&P 500 SPX and Nasdaq Composite COMP and Dow industrials DJIA tumbled on Friday after a surprise spike in producer prices. Trump last week offered Read President Trump’s statement on Iran in full U.S. President Donald Trump said in an 8-minute video posted on his Truth Social that the U.S. has begun “major combat operations in Iran.” He claimed Iran has continued to develop its nuclear program and plans to develop missiles to reach U.S. and appealed to the Iranian people to “take over your government.” Here’s Trump’s address in full: A short time ago, the United States military began major combat operations in Iran. Our objective is to defend the American people by eliminating imminent threats from the Iranian regime. A vicious group of very hard, terrible people. Its menacing activities directly endanger the United States, our troops, our bases overseas, and our allies throughout the world. For 47 years, the Iranian regime has chanted Death to America and waged an unending campaign of bloodshed and mass murder, targeting the United States, our troops and the innocent people in many, many countries. Among the regime’s very first acts was to back a violent takeover of the U.S. Embassy in Tehran, holding dozens of American hostages for 444 days. In 1983, Iran’s proxies carried out the marine barracks bombing in Beirut that killed 241 American military personnel.