"Stock markets hit record high, oil prices tumbling down": Trump post Iran deal
Washington DC, June 18
US President Donald Trump on Thursday announced that stock markets have hit a record high, and oil prices have come down following his Iran deal.
In a post on Truth Social, he said, "These fools, who think I haven't been tough enough on Iran, when the Stock Market Just Hit A RECORD HIGH, and Oil prices are "tumbling" down, are either jealous, bad people, or stupid. MAKE AMERICA GREAT AGAIN!!! President DJT."
As per ABC News report, world shares were mixed on Thursday after the US and Iran signed their initial agreements on the war.
The rally in Asia followed a retreat Wednesday on Wall Street driven by speculation the Federal Reserve may raise interest rates this year to curb inflation. US futures were higher early Thursday, while oil prices fell, as per ABC News.
The agreement marks a significant diplomatic development between Washington and Tehran. According to CNN, US President Donald Trump and Iranian President Masoud Pezeshkian virtually signed the 14-point memorandum aimed at ending hostilities between the two countries, reopening the Strait of Hormuz and launching a 60-day process to negotiate a comprehensive final agreement.
CNN reported that a White House official confirmed Trump personally signed the document on Wednesday while in France, while Pezeshkian signed it separately, bringing the agreement into immediate effect.
The United States subsequently released the official text of the "Islamabad Memorandum of Understanding between the United States of America and the Islamic Republic of Iran."
A senior US administration official described the agreement as a framework designed to reopen the Strait of Hormuz immediately, address Iran's stockpile of enriched uranium and create a pathway for phased economic relief tied to Tehran's compliance with the deal.
According to Iran's Press TV, Foreign Ministry spokesperson Esmaeil Baghaei confirmed that the memorandum had been finalised and signed by both sides following consultations involving Oman and other countries.
— ANI
Reader Comments
Finally some sanity in global politics! 🤞 The Strait of Hormuz reopening is crucial for India's energy security. We import most of our oil from that region. Hope this deal holds and doesn't unravel like the previous ones. India should strengthen its strategic ties with both US and Iran now.
Trump's boast about stock markets sounds like his usual chest-thumping. But the real question is—will this deal actually reduce tensions in West Asia? India has millions of workers in Gulf countries, and we can't afford another crisis like the Iran-US standoff of 2020. Khuda kare yeh deal kaam aaye.
As someone who trades on the NSE, record highs in US markets do influence our sentiment. But oil prices falling is the bigger story for India—our import bill will drop significantly. Just hope this isn't another temporary truce before things go sour again. The 60-day negotiation period is crucial.
The Islamabad Memorandum—interesting choice of venue. Pakistan playing mediator? 🤔 Anyway, if this deal leads to stable oil prices, Indian consumers will benefit directly. But I'm skeptical about Trump's claims. The man loves taking credit for everything. Let's see if the stock market rally holds or if it's just a dead cat bounce.
Good diplomatic move overall. But Trump calling people "stupid" and "jealous" doesn't inspire confidence in the deal's longevity. India should maintain its independent foreign policy—we need oil from Iran but also strong ties with the US. Hope our government is watching this closely and planning accordingly.
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.