Trump · CNBC Technology
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Uncertainty in the U.S.
Key facts
- Meanwhile, U.S. futures tumbled overnight, with the Dow Jones Industrial Average futures losing 517 points, or 1.1%
- A round of 21-hour marathon U.S.-Iran peace talks hosted by Pakistan over the weekend ended in a stalemate, with U.S. President JD Vance flying home without a deal
- Hello, this is Anniek Bao writing to you from Singapore
- Following the collapse of negotiations, President Donald Trump on Sunday said the U.S. will launch a naval blockade of the Strait of Hormuz
Summary
Hello, this is Anniek Bao writing to you from Singapore. President Donald Trump has ordered the U.S. Navy to blockade all vessels heading in and out of the Strait of Hormuz, in a counterintuitive move that followed another round of talks aimed at, among other things, the reopening of the waterway critical for energy supplies. As the clock ticks down to the deadline for the blockade to kick off, investors are on tenterhooks with little visibility on how it will be implemented, and how long and deep an oil shock needs to be priced in. A round of 21-hour marathon U.S.-Iran peace talks hosted by Pakistan over the weekend ended in a stalemate, with U.S. President JD Vance flying home without a deal. The U.S. and Iran failed to reach an agreement on thorny issues, with Vance highlighting that Iran's unwillingness to drop its pursuit of nuclear weapons was the key issue that stalled the talks.