Trump delays Strait of Hormuz deadline as Wall Street has biggest loss of war
U.S. President Donald Trump said Thursday (Friday, March 27 PH time), he will delay a threatened strike on Iran's energy infrastructure and extend his deadline for Tehran to reopen the Strait of Hormuz until April 6, saying talks to end the war are "going very well."
The move marks a pullback from Trump's earlier warning that the U.S. would target Iran's energy plants if the crucial shipping lane remained closed. Iran has threatened to retaliate against regional infrastructure, including desalination facilities, if the U.S. follows through.
A day after Tehran dismissed Trump's 15-point ceasefire plan, the president said Iran was "begging to make a deal" and urged its leaders to "get serious soon" about negotiations.
Trump's announcement on social media came after U.S. stocks fell sharply and oil prices rose, as doubt took over again on Wall Street about a possible end to the war.
The war has killed more than 1,900 people in Iran and nearly 1,100 in Lebanon. Eighteen people have died in Israel, while three Israeli soldiers have also been killed in Lebanon. Thirteen U.S. military members have died, as well as a number of civilians on land and sea in the Gulf region. Millions of people in Lebanon and Iran have been displaced.
