Trump Cancels Planned Strike on Iran, Oil Prices and US Bond Yields Fall, Stock Market Rebounds

BlockBeats News, May 19th. President Trump announced that he had called off the planned strike on Iran scheduled for Tuesday, following a request from allied leaders in the Gulf region to seek more time for a diplomatic solution. Trump stated that the leaders of Saudi Arabia, Qatar, and the UAE made this request, believing that a deal could be reached, which would be highly acceptable to the United States, the Middle East countries, and even the broader region. Key aspects of this deal will include: Iran not having nuclear weapons.

Trump said, "There seems to be a great opportunity to reach an agreement with Iran. The Middle East inquired about the possibility of delaying the attack on Iran for 2 to 3 days because these countries believe an agreement is near. Iran must confirm its commitment to not having nuclear weapons in writing. I think we have made significant progress on the Iran issue." Trump has instructed Defense Secretary Esper and other U.S. officials to hold off on action, but also warned that he has further directed the military to be prepared to launch a "broad-spectrum, large-scale attack" on Iran immediately if an acceptable agreement is not reached, with no set deadline.

According to Bitget data, after the announcement, oil prices gave back most of the day's gains, with WTI crude oil dropping from a more than 4% increase to briefly less than 1%. U.S. bond yields fell, and U.S. stocks saw a rebound. At the close of Monday, the S&P 500 Index fell by 0.07%, the Nasdaq fell by 0.5%, and the Dow Jones, on the other hand, closed up by 0.32%.