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Trump’s post sparks five minutes of chaos on markets
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Just moments after Donald Trump backed down from his threat to bomb Iran’s energy infrastructure in a Truth Social post at 7.05 am, oil prices plunged over 13 per cent, Treasury yields tumbled and traders signalled that US stocks would surge at the opening bell.
It almost didn’t matter that less than an hour later Iran contradicted Trump’s claim that negotiations were underway. On Wall Street, the message was clear: Trump, at least, is eager to end a war that has sent the global economy careening toward a crisis since he started it a little over three weeks ago.
‘Stop this savage being’: Iranians fear postponed Trump attack is merely disaster delayed
Some inside Iran believe threat was designed to divert attention from desire to seize islands in strait of Hormuz
A wave of temporary relief, and some jubilation swept through Iran as Donald Trump announced he was postponing an attack on its energy infrastructure after he claimed to have had productive conversations with Tehran – conversations Iran promptly denied ever having directly with him or through intermediaries.
That does not mean the diplomatic track was entirely silent. Turkey, through its foreign minister, Hakan Fidan, and Oman, via its foreign minister, Badr Albusaidi, who are respected in both Tehran and Washington, have been working the phones constantly.
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