investingLive Americas market news wrap: US-Iran talks halted but Trump extends ceasefire
- Iran’s decision not to attend Wednesday’s meeting is final – Tasnim
- Trump says will extend ceasefire for now – more to come
- US has privately indicated to Iranians it will soon lift blockade – report
- Iran foreign min: Blockading Iranian ports is an act of war
- Pakistan info minister: Formal response from Iranian side on attending talks still awaited
- Kevin Warsh says he wants a new inflation framework
- US March retail sales +1.7% vs +1.4% expected
- Weekly US ADP pulse 54.75 vs 39.25K prior
- Trump: We’re in a strong negotiating position, will end up with a great deal
Markets:
- Gold down $112 to $4707
- June WTI crude up $2.81 to $90.29
- S&P 500 down 0.6%
- US 10-year yields up 4.8 bps to 4.2975%
- USD leads, EUR lags
The twists and turns continued in the Iran war. The day started with high hopes and there were initial signs that JD Vance and US negotiators would be dispatched to Pakistan but not long after Trump’s appearance on CNBC, the doubts started to creep in. At the same time, the US retail sales report was strong but totally ignored.
When Vance flew to Washington instead of Islamabad, the worries intensified and they were confirmed late in the day by an Iran media report saying that talks were called off. That was confirmed shortly afterwards by US media and Trump then unilaterally extended the ceasefire. Notably, the agreed ceasefire ends at 7:50 pm ET (about three hours from now) and Iran is already saying a surprise attack is Trump’s plan.
With Trump’s ceasefire the market breathed a sign of relief but his statement was notable for highlighting division in Iran and that looks like a divide-and-conquer strategy rather than a tactical move to wait. This is also the fifth time Trump has extended his own deadline to bomb Iran’s infrastructure.
The market moves were largely predictable with oil higher, the euro sliding, yields higher and stock markets lower. Expect much more of that if the bombs start flying again.
This article was written by Adam Button at investinglive.com.