The stock market took a massive dive as the price of oil soared on Thursday following President Donald Trump’s primetime address on Iran.

More than a month into the conflict, the president spoke to the nation in a 19-minute speech where he made his case for why he believes the war in Iran is necessary.

Trump, 79, did not define a clear endgame or timeline for the war beyond saying the U.S. would be hitting Iran hard over the next two to three weeks.

The markets did not take his rambling speech well, as investors had been hoping for signs of de-escalation from the president.

The Dow tumbled more than 600 points at the start of trading. The S&P 500 plunged 1.3 percent while the Nasdaq dropped 1.9 percent.

Meanwhile, the price of crude oil skyrocketed more than 12 percent to $112 a barrel while futures for Brent crude oil, the global standard, rose to more than $109 a barrel, ensuring Americans and consumers around the world feel more pain at the pump as the war continues.

The national average for the price of gas hit nearly $4.07 a gallon on Thursday, according to GasBuddy.com. The national average for a gallon of diesel was $5.49. It’s less than 35 cents from reaching an all-time record in the U.S., which could come in the next two weeks.

According to GasBuddy.com’s Patrick De Haan, if the pace continues, the national average for a gallon of gas could rise to between $4.25 and $4.45 a gallon in the next two weeks.

During his address on Wednesday, the president tried to downplay the economic impact his war was having on consumers’ wallets and blamed Iran.

Trump insisted that stock prices would rapidly go back up and claimed they hadn’t come down “very much.” He even bragged that the markets “had some very good days over the last couple of days.”