VanEck says market unmoved by Trump speech, focused on war

Russel Chesler, Head of Investments and Capital Markets at VanEck, stated that the market clearly did not view President Trump's recent speech as positive news, adding that it failed if the goal was to boost market confidence. He noted that the primary concern for all investors is when the current war will end, and this uncertainty is increasing market volatility. Chesler explained that if the perception of a prolonged war spreads, asset prices will enter a correction phase. While the U.S. dollar might strengthen in the short term amid such a volatile environment, its long-term structural downtrend will remain unchanged, he added. Chesler also warned that the market is currently heading toward a period of stagflation, marked by slowing economic growth and rising inflation expectations.