Stocks rose and oil prices fell after US President Donald Trump eased his threats on Iran.
Trump announced a five-day suspension of US strikes on Iran’s energy infrastructure, hailing productive talks with Tehran, which Iranian officials denied even took place.
Trump’s sudden talk of de-escalation — he said the US was intent on making a deal with Iran — was part of his efforts to calm markets that had been rattled by his threats to destroy Iranian power plants, and came after US allies warned him of the dangers of his plans, Bloomberg reported.
While investors were relieved, analysts remained cautious: “It’s incredibly difficult to trade these markets when Trump is swinging between massive escalation and declaring peace/victory,” one said.