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AAP
AAP
Business
Amanda Cooper

Stocks slip as Fed rate outlook offsets Iran deal hopes

United States US Federal Reserve the Federal Reserve Oil

Global stocks ‌have been torn between concern about the rising chances of a US rate hike after the Federal Reserve's meeting and optimism over the reopening of the ‌Strait of Hormuz.

The United States and Iran on Wednesday released the text of their agreement, which extends a ceasefire announced in April by another 60 days to allow the ‌two sides to negotiate a truce.

It also includes the full resumption of maritime traffic "with no charge" in the Strait of Hormuz.

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