Trump Calls Off Iran Attack, Seeks Negotiations Amid Market Volatility
US President Trump has called off what he described as a 'massive attack' on Iran, opting for negotiations instead. The decision comes after Saudi Arabia, the UAE, Qatar, and Iran urged him to cancel the planned operation, citing a potential deal.
Trump said that the countries believed a deal could be reached on both the Strait of Hormuz and Iran's nuclear program. He added that he viewed denuclearization as the goal, but did not provide further details.
The Dow futures rose 204 points to 52,839 after the news, while oil prices plummeted nearly 5% to $80.47 per barrel. The S&P 500 and Nasdaq 100 futures also gained ground, with the U.S. dollar index falling 0.30%.
Iranian officials denied asking Trump to halt the attack, with the semi-official Fars news agency calling him 'the fool who has run out of steam.'