While global stocks have largely sustained ‌the relief rally that followed Monday’s wild swings, fear is again resurfacing as Iran vowed to step up its missile strikes.

President Donald Trump’s assurance that the war with Iran was “very complete” and could be “over soon” initially injected optimism into markets, even as Iranian hardliners rallied behind new Supreme Leader Mojtaba Khamenei and said their blockade of oil would continue.

Within hours of Trump’s statements, Iran’s military dashed ⁠markets’ hopes. “We are the ones who will determine the end of the war,” Iran’s Revolutionary Guards said.

Such comments brought the exchange back to a familiar tempo with Trump then threatening to hit Iran “TWENTY TIMES HARDER than they have been hit thus far.”