US Markets Surge and Plunge After Trump’s False Iran ‘Truce’ Claim
Trump posted an early-morning claim that he had agreed to a five-day truce and fresh talks with Iran. Investors reacted immediately when US markets opened. Oil futures, which closed last Friday at $117 a barrel, plunged to $91 on the commodities screen. At the same time, the overall US stock market jumped by about $2 trillion in value. Less than an hour later, Iran denied ever entering discussions with the White House. The market then wiped out roughly $1 trillion, with further losses looming as traders reassessed the situation.
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