Following Trump’s announcement, Dow futures skyrocketed, gaining as much as 750 points, while S&P 500 and Nasdaq futures increased by 1.5% to 1.7% respectively. Futures had begun to rise before the announcement and further extended their gains afterward. Meanwhile, US crude prices dropped by 10%.
However, Trump’s agreement to pause bombings in Iran hinges on a specific condition—the complete, immediate, and safe reopening of the Strait of Hormuz, which he mentioned on his social media. An official statement from Iran is still awaited.
Trump revealed that this decision followed discussions with Pakistan Prime Minister Shehbaaz Sharif and Field Marshal Asim Munir.
“The rationale behind this is that we have already met and exceeded all military objectives and are close to finalizing a definitive agreement for long-term peace with Iran and peace in the Middle East. We received a 10-point proposal from Iran, which we believe is a viable foundation for negotiations,” Trump articulated on his social media account.
The President’s post further indicated that almost all contentious points between the US and Iran have been addressed, and this two-week period will facilitate the finalization of the agreement.
“On behalf of the United States of America, as President and representative of the Middle Eastern countries, it is an honor to see this long-term issue nearing resolution. Thank you for your attention to this matter!” Trump concluded his message.
Prior to Trump’s announcement, Pakistan Prime Minister Shehbaaz Sharif had posted on “X” concerning Trump’s request for a two-week extension during which a deal could be negotiated. The White House responded, confirming that Trump was aware of the request and would respond shortly.
First Published: Apr 8, 2026 4:19 AM IST
