President Donald Trump backed down from a deadline for Iran to open the Strait of Hormuz ahead of the opening bell on Monday, citing substantive negotiations in a Truth Social post. Equity index futures immediately bounced while crude oil prices corrected, as investors, traders and speculators reacted to the most recent twist in the war between the U.S., Israel and the Islamic Republic.
"I am pleased to report that the United States of America, and the country of Iran, have had, over the last two days, very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East," the president posted on his social media account at 7:23 am Eastern Daylight Time.
