Trump says Iran ceasefire on life support, crude up 4%
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- U.S. consumer prices rose sharply for a second straight month in April, marking the largest annual inflation increase in nearly three years.
- Donald Trump announced the month‑old US‑Iran ceasefire was “on life support,” after Tehran rejected a U.S. plan to end the war.
- U.S. crude oil settled up 4.19% at $102.18 a barrel as hopes for a Middle East peace deal faded, while Brent rose 3.42% to $107.77 a barrel.
- Emily Roland noted that speculation about the Iran conflict flaring pushed oil higher and that rising Treasury yields added pressure on stocks.
- Dow Jones Industrial Average edged up 0.11% while the S&P 500 fell 0.16% and the Nasdaq Composite dropped 0.71% as the market reacted to inflation data and oil price gains.
- South Korea’s KOSPI fell 2.3% after hitting a record high, pulling down regional markets, amid discussion of “citizen dividends” by policy adviser Kim Yong‑beom.
- U.S. Treasury yields rose, with the 10‑year note reaching 4.461% and the 30‑year note 5.0253%, while the dollar strengthened against the euro and yen.
Why it matters: Higher oil prices and stubborn U.S. inflation lifted Treasury yields and the dollar, pressuring equities and boosting energy‑related stocks. Oil producers benefit from the 4% price jump, while Asian markets feel the spillover from the weakened KOSPI across the board.
