The Dow Jones (DJIA) is trading lower on Tuesday ahead of President Trump’s 8 p.m. Eastern Time deadline for Iran to reopen the Strait of Hormuz.
Claim 30% Off TipRanks
Trade QQQ with leverage“A whole civilization will die tonight, never to be brought back again,” Trump said in a Truth Social post. “I don’t want that to happen, but it probably will.” He added that “something revolutionarily wonderful can happen” due to regime change in Iran.
Iran Severs Direct Communications with U.S.
Iran completely cut off direct communications with the U.S. following Trump’s threat, but mediators continue to work to secure a ceasefire deal between the two sides, according to the Wall Street Journal. On Monday, Iran rejected a ceasefire proposal issued by the U.S. and mediators.
This morning, the U.S. launched attacks on more than 50 military targets on Kharg Island. The island is Iran’s main oil export hub, making it a key part of the country’s economy.