US President Donald Trump announced a 5-day halt to military strikes on Iranian power plants and energy infrastructure, citing "very good and productive conversations" with Tehran. This move led to a surge in stocks and a drop in oil prices, with Brent crude falling as much as 14%.
The announcement was made via Trump's Truth Social post, stating the US would postpone strikes for five days, subject to successful talks. Iran's response was mixed, with some officials denying negotiations while others indicated openness to talks.
The market reacted quickly, with S&P 500 futures jumping and oil prices plummeting. Analysts see this as a potential "off-ramp" for Trump, but uncertainty remains high.