Trump Backs Off Iran Energy Strike Threat as Markets Reel

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000War With Iran:US President Donald Trump speaks to the media before boarding Air Force One at Palm Beach International Airport on March 23.Just before US markets opened on Monday, President Donald Trump backed down from his threat to destroy Iran’s power infrastructure if it didn’t reopen the Strait of Hormuz within 48 hours — pushed by the surge in energy prices and global market rout unleashed by the US-Israeli war on Tehran and hopes that fresh talks could yield a deal to end the conflict.The president’s decision was aimed in part at calming markets, according to people familiar with the matter, and immediately spurred a sharp fall in Brent crude and a rebound in the S&P 500 and US Treasuries.