Tuesday saw a general decline in Asian stock prices and accelerating oil price gains as investors bet on the Federal Reserve raising interest rates again next month and the possibility of the Strait of Hormuz reopening cooled.
Donald Trump turned down Iran’s offer of a seven-day truce over the weekend, crushing any hopes of a Middle East tension reduction. Despite his assurances that talks will restart this week, the market remained pessimistic as traders fretted over potential inflation spikes that could prompt the Fed to further tighten monetary policy.
Despite the protracted conflict in the Middle East, President Trump denied on Monday that he had offered Iran sanctions relief and the release of restricted assets, according to the news website Axios. According to a recent report by Axios, “Trump” extended an offer to Iran to lift sanctions and free frozen funds.
This is not correct. Trump complained on his Truth Social platform that he had offered them absolutely nothing. An anonymous US official was quoted as saying that Trump “is willing to give Iran sanctions relief and release Iranian frozen funds in return for concrete Iranian steps regarding the nuclear program” in the story.
An 80-year-old Republican blasted the article as “a HOAX” and demanded that the news outlet remove it. But according to Iran’s national media, Foreign Minister Abbas Araghchi will meet with Qatari officials.
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