US, Israel and Iran agree to two-week ceasefire
Why it matters: The ceasefire immediately impacted global markets, causing oil prices to plunge and Asian stocks to soar.
- President Donald Trump announced a two-week suspension of his 'unconstitutional war' with Iran, hours after threatening 'a whole civilization will die tonight' (original story).
- The ceasefire is conditional on Iran ending its blockade of the Strait of Hormuz (original story).
- Oil prices plunged and Asian stocks soared immediately following the ceasefire announcement (Channel News Asia).
- Over 85 Democratic lawmakers are demanding Trump's removal, indicating the ceasefire has failed to quiet his critics (Axios).
- Axios and Foreign Policy both confirmed the U.S. and Iran agreement to a two-week ceasefire.
Despite President Trump's earlier genocidal threat against Iran, the U.S. and Iran have agreed to a two-week ceasefire, contingent on Iran ending its blockade of the Strait of Hormuz. This unexpected agreement led to a significant plunge in oil prices and a surge in Asian stocks, though it has not quelled demands from over 85 Democratic lawmakers for Trump's removal.
