Middle East crisis live: Trump pausing strikes on Iran energy sites; Houthis say ‘no reason’ to halt Red Sea shipping | US-Israel war on Iran
important events
To summarize, on Thursday Wall Street had its worst day Since the war with Iran started.
The S+P 500 fell 1.7% and the index is heading for its fifth straight week of losses; This will be the longest losing streak in almost four years. The Dow Jones Industrial Average fell 1% and the Nasdaq composite fell 2.4%.
Some news for Asian markets following early trading on Friday.
South Korean stocks fell more than 3 percent% today and they are poised to end the week lower. Japan’s Nikkei share average also fell today and is on track for a fourth consecutive weekly decline as hopes for an imminent ceasefire fade.
Elsewhere, Hang Seng in Hong Kong lost 0.1 percentMeanwhile Shanghai Composite Index increased by 0.1 percent. Australia S+P/ASX 200 down 0.5%during Taiwan’s Taiex trades down 1.5%.
World Trade Organization chief Ngozi Okonjo-Iweala He warned that the global trading system was experiencing “the worst disruptions in the last 80 years.”
“The world order and the multilateral system as we used to know it have changed irreversibly,” he told the WTO ministerial conference on Thursday. “We cannot deny the magnitude of the problems facing the world today.”
Welcome summary
Hello, welcome to our ongoing live coverage of the US-Israeli war on Iran and its consequences for the region, the world, and the global economy.
Here are the latest developments:
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Donald Trump Claiming that the request came from Tehran and that the talks were going “very well”, he said that he would once again extend the pause on the threat of attacking Iran’s energy infrastructure by 10 days until April 6. The US president threatened last Saturday that he would hit Iran’s energy infrastructure if Tehran did not reopen the Strait of Hormuz. Then on Monday, he delayed his threat for five days (until Friday), citing “very good and productive talks” with Iran on ending the war (Tehran called it “fake news” designed to “manipulate” oil markets). Now he’s turning that time back once again.
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After Trump’s latest statement, the price of Brent crude oil also fell. Oil prices rose to this week’s high after Trump’s cabinet meeting early Thursday, with Brent crude trading at around $108 a barrel.
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Houthis in Yemen say there is no need to worry over fears that Tehran may ask them to attack ships in the Red Sea if Trump follows through on his threat to seize Iran’s Kharg Island..
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A day after Tehran rejected Trump’s 15-point ceasefire plan, the US president claimed Iran was “begging for a deal”. and that he was not the one pushing for negotiations. He has previously told Tehran to “get serious soon” about negotiating a deal to end the war.
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Trump has denied reports that he is seeking an exit ramp as oil prices rise and political pressure mounts to avoid a protracted Middle East war of the kind he once rejected. “I read a story today that said I was desperate to make a deal,” Trump told reporters. “I’m the opposite of helpless. I don’t care.”
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US proposal to end nearly four weeks of conflict is “one-sided and unfair”a senior Iranian official told Reuters on Thursday.
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Trump said Iran allowed some oil tankers to pass through the Strait of Hormuz as a sign of good faith for negotiations. He said Iran allowed 10 oil tankers to pass through the strategic strait as a “gift” to show that it was serious about negotiations to end the war.
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Pentagon plans to send up to 10,000 additional ground troops to the Middle East According to the Wall Street Journal’s report, based on defense ministry officials, it was reported that Trump will be offered more military options even as he focuses on peace talks with Tehran.
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Israel Defense Forces Chief of Staff warns army will ‘collapse in on itself’ Israel faces increasing demands and growing manpower shortages while fighting on multiple fronts, according to media reports.
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A Thai-flagged cargo ship, hit by unknown shells in the Strait of Hormuz earlier this month, ran aground off Iran’s Qeshm Island. Iran’s semi-official Tasnim news agency said in a statement on Friday.
