After markets rattle, Trump once again punts on following through with threat on Iran power plants
WASHINGTON (AP) — Facing a convulsing stock market, President Donald Trump on Thursday moved to buy himself more time and hold off, once again, on carrying out a threat to obliterate Iran’s energy plants over the Islamic Republic’s effective closure of the Strait of Hormuz.
Trump said he was delaying taking potential action because talks aimed at ending the conflict are going “very well,” despite the fact that Iran continues to publicly insist it is not negotiating with the White House on a 15-point proposal — delivered by Pakistani intermediaries — to end the war. He said Iran had asked for the grace period.
“They asked for seven (days),” Trump said in an appearance on Fox News Channel’s “The Five” shortly after he announced on social media he would give Iran until April 6 to reopen the strait. “And I said, ‘I’m going to give you 10.’”
Trump publicized his decision shortly after Wall Street closed Thursday, another rocky day with U.S. stocks recording their biggest loss since the war with Iran started. The S&P 500 dropped 1.7%, the Dow Jones Industrial Average dropped 469 points, or 1%, and the Nasdaq composite sank 2.4% to fall more than 10% below its all-time high set early this year.
https://apnews.com/article/trump-iran-hormuz-markets-bd5ad0e6999abf1cbdf1e7cfb8ea5109
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