President Trump announced late last night that, at the request of leaders in the Middle East, he'd scrapped planned strikes in Iran for Tuesday.
This will be a relief to Wall Street, with investors nervous about the conflict between Iran and the U.S. escalating once more, delaying the reopening of the Strait of Hormuz and choking global oil supply as a result.
But traders were cautious about jumping on a jolly bandwagon too soon. Markets moved only modestly on the news, perhaps because investors viewed it as the avoidance of bad news rather than confirmation of good news.
Trump also made it clear he wouldn’t hesitate to re-engage militarily in Iran if a deal couldn’t be reached. He added on Truth Social that the U.S. is “prepared to go forward with a full, large-scale assault of Iran, on a moment’s notice, in the event that an acceptable Deal is not reached.”
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