Markets Soar Again as Trump Promises Iran Deal

“The Trump administration this week sparked enthusiasm that the U.S. and Iran could soon strike a deal on the Strait of Hormuz, driving down oil prices and sending stocks soaring — only for no deal to emerge,” CNBC reports.

“If that sounds familiar, it may be because President Donald Trump has claimed dozens of times that the U.S. is close to an agreement that will end the war it began more than five months ago.”

“Investors have reacted to many of those claims with bursts of buying on hopes a breakthrough is near, even as the war instead appears to be widening and progress on Trump’s chief stated goal — containing Iran’s nuclear ambitions — is at a standstill.”