US and Iran Trade Strikes, Leaving Questions About Ceasefire
Both markets and analysts wonder what's next for the US-Iran conflict as the two sides trade fresh strikes and US President Trump says he sees the ceasefire between them as finished.
US Strikes Iran: Tensions Rise After Ceasefire Collapses
REPORTER:
Blasts thunder through the southern Iranian city of Bandar Abbas. The US has launched widespread strikes on Iran, including here, right on the strategic Strait of Hormuz. Washington says it’s payback for Iranian strikes on shipping in the strait—an artery for much of the world’s oil and gas.
REPORTER:
Iran responded with strikes that its Revolutionary Guards say hit dozens of US military targets in nearby countries.
REPORTER:
US President Donald Trump has had a busy few days--granting Ukraine a license to make Patriot Missiles, among other things at this year’s NATO summit. But Iran has been on his mind, too. And before leaving the summit, he had this to say about a ceasefire that was supposed to stop this kind of back-and-forth after months of war.
Donald Trump (US PRESIDENT):
To me, I think it's over. I don't want to deal with them anymore, they're scum. You know what scum is? They're scum. They're sick people.
REPORTER:
Trump has said he doesn’t think full-on war is coming back. But on social media, he warned of even worse strikes ahead if Iran attacks more shipping.
REPORTER:
After Trump declared the ceasefire over, oil prices jumped 8%, and markets face greater uncertainty.
Chris Brigati (CHIEF INVESTMENT OFFICER, SWBC):
So right now I think the market is, again, more in tune to what's going on because there are actual actions, as opposed to words, that are happening and the actions being the U.S. bombing Iranian targets overnight, President Trump threatening to do so again this evening, we'll see what happens with that. But ultimately, all those things will lead to the fact that the market is going to be negatively impacted and the volatility will be higher.
REPORTER:
For some observers, it seems the ceasefire was never really ever in place to begin with. They see little chance of a peace deal anytime soon, as Iran shows it can sustain a war and Trump loses credibility among allies.
Igor Cherstich (UNIVERSITY COLLEGE LONDON):
I think people are getting a bit tired of this capricious way of doing politics and possibly about the language as well, you know. Which in a sense is a good thing, actually, because that means people are going to possibly start to understand that this is a very dangerous game they're playing.
REPORTER:
While switching planes in the UK for the trip home, Trump said that the US had hit Iran—quote—“very hard”. As he returns from the NATO summit, questions remain about what that means for the fragile US-Iran truce.
