The dollar struggled to bounce back Wednesday following another selloff fuelled by Donald Trump’s suggestion he was happy with the currency’s recent decline, while tech firms helped most equity markets extend their rally.

“I’m here because I love Iowa, but I’m here because we’re starting the campaign to win the midterms. Got to win the midterms,” second-term president Trump said in his speech.

Iran has warned of “destructive consequences” if the country’s Islamic Revolutionary Guard Corps is listed as a terrorist organisation by the EU, state media reported Tuesday, after Italy’s foreign minister urged Brussels to go ahead with the designation.

A US naval strike force led by an aircraft carrier was in Middle Eastern waters on Tuesday as Iran vowed to hit back against any strike and President Donald Trump said he believed the Islamic republic still wanted talks.

“It will be only in a defensive role, but I am convinced that nothing will happen,” Attilio Fontana told reporters.