The White House plunges into chaos over the duration of the war.
Image: El País

The White House plunges into chaos over the duration of the war.

10 March, 2026.USA.1 sources

Key Takeaways

  • Donald Trump gauges his administration's success by stock indices and gasoline prices.
  • The Dow plunged Monday and oil prices surged due to the war against Iran.
  • Donald Trump proclaimed the conflict would end very soon; markets calmed the following day.

Conflicting White House timelines

Donald Trump and his administration have issued contradictory timelines about the conflict that began when the U.S. and Israeli offensive against Iran started on February 28.

Donald Trump has always measured the success of his administration by stock market indices and the performance of the economy, particularly by the price of gasoline

El PaísEl País

Trump moved from predicting "two or three days" to "four or five weeks" within 24 hours while the Pentagon even mentioned eight weeks, and messages from officials continue to diverge.

Image from El País
El PaísEl País

Pete Hegseth, the Secretary of Defense, said "[The war will conclude] when we decide it," and presidential spokesperson Karoline Leavitt said the offensive will end "when President Donald Trump decides."

Hegseth also vowed "We will not stop until the enemy is totally and completely defeated" and predicted the day would see "the largest number of fighters, the greatest number of bombers, the biggest attacks, the best and most precise intelligence data ever."

Casualties and market impact

The Pentagon and the White House released casualty and cost figures while markets reacted to the fighting.

The Pentagon estimated the first two days of the war cost $5.6 billion (4.8 billion euros) in ammunition alone and acknowledged the deaths of seven service members and another 150 wounded, with spokesperson Sean Parnell saying 108 suffered only minor injuries and eight are in serious condition; the White House corroborated those figures.

Image from El País
El PaísEl País

Oil prices surged and the Dow Jones plunged on Monday, pushing some outlets such as CNN to include a real-time gasoline price counter, and gasoline in the United States remained at $3.54 per gallon (3.85 liters).

Oil companies warned of "disastrous consequences" if the conflict drags on, though markets calmed a day later and the pan-European STOXX index finished 1.9% higher than the day before.

Domestic political pressures

He needs the conflict not to drag on so U.S. casualties do not rise and so economic indicators do not "blow up" just months before crucial midterm elections, yet he cannot declare victory prematurely and risk accusations of backing down, what opponents call the "TACO effect" or "Trump Always Chickens Out."

The administration repeatedly emphasizes it will not be dragged into an endless war like Iraq or Afghanistan, a red line for many citizens and for pro-Trump voters who expected non-intervention.

A Quinnipiac poll published on Monday found 53% of voters oppose the war while 40% support it, and opposition rises to 74% when asked whether the United States should send troops into Iranian territory.

Regional escalation and diplomacy

The conflict shows signs of regional escalation and parallel diplomatic moves, with no sign of Iranian capitulation.

Iran has launched new attacks against Israel and the Arab Gulf states and threatened to close the Strait of Hormuz, which the article notes handles 20% of the world’s oil traffic; Israel has bombed Tehran and Lebanon again to strike Hezbollah, and the Revolutionary Guard says it will decide when the war ends.

Image from El País
El PaísEl País

The Pentagon claims Iran now has only 10% of the missile and drone strike capacity it had before February 28 and says it is attacking rocket and drone factories including those deep underground.

Diplomatically, Trump said in an interview it was "possible" to deal with the new authorities in Tehran "depending on the conditions," and his envoy Steve Witkoff plans to travel to Israel next week to discuss next steps.

Karoline Leavitt denied that the U.S. Navy had escorted a tanker through the Strait of Hormuz after Energy Secretary Chris Wright posted and deleted that claim on X, saying "I can confirm that the U.S. Navy has not escorted a tanker or vessel at this time."

More on USA