Trump Issues Iran Ultimatum, Then Calls Off Strikes
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- Trump warned Iran with a 48‑hour deadline to reopen the Strait of Hormuz or face new US airstrikes.
- Trump later announced a temporary hold on the strikes after contact with an unnamed Iranian leader, initiating a five‑day countdown.
- Trump visited Graceland in Memphis, touting a drop in the city’s crime rate and meeting National Guard personnel.
- Trump claimed the US and Iran had “major points of agreement” and “15 points of agreement,” though he gave no specifics.
- Iran replied it would target regional energy and water infrastructure if US strikes proceeded.
- US stock market rallied and global oil prices fell after Trump’s announcement of constructive talks with Iran.
- Iranian state media cited Trump’s Truth Social post to claim he backed down, while Iranian officials denied substantive talks.
Why it matters: Investors gained as the market rallied and oil prices fell, while Iran faced a delayed escalation and the United States bought time to negotiate, reducing the immediate risk of a broader conflict and easing pressure on US allies in the region.
