Mucahithan Avcioglu
07 April 2026•Update: 07 April 2026
US stock markets closed Tuesday with a mixed course as investors weighed reports of a possible extension of US President Donald Trump’s looming Iran deadline.
The Dow fell 0.18%, or 85.42 points, to close at 46,584.46.
On the other hand, the Nasdaq composite rose 0.1%, or 21.51 points, to 22,017.85, while the S&P 500 added 0.08%, or 5.02 points, to 6,616.85.
The Volatility Index (VIX), often called the market’s “fear index,” rose 6.66% to 25.78.
Stocks rebounded after Pakistani Prime Minister Shehbaz Sharif urged Trump to extend his deadline for Iran by two weeks “to allow diplomacy to run its course.”
The deadline, set for 8 pm ET Tuesday (0000GMT Wednesday), is aimed at forcing Tehran to reopen the Strait of Hormuz and accept US demands, including on its nuclear program.
Adding to expectations of a possible diplomatic pause, the White House told Axios that Trump is “aware” of Pakistan’s two-week Iran cease-fire proposal and that “a response will come.”
Oil prices fell on the developments, after rising earlier in the day, with Brent crude futures declining 2% to $107.4 a barrel and US Western Texas Intermediate (WTI) futures falling 0.3% to $112.1.
On the other hand, Dated Brent, the key benchmark for physical crude cargoes that helps price much of the world’s oil, climbed to an all-time high of $144.42 per barrel.
World Bank President Ajay Banga said Tuesday that the war in the Middle East is expected to weigh on global growth and push inflation higher, regardless of how quickly the conflict ends.
On the data side, US consumers’ short-term inflation expectations rose to 3.4% in March, while households grew more pessimistic about their financial situations, according to a New York Fed survey.
European stock markets
European stock markets ended with sharp losses Tuesday amid Iran developments, with the benchmark Stoxx Europe 600 index falling 0.94% to 580.73 points.
Germany’s DAX 40 slid 1.06% to 22,921.59, the UK’s FTSE 100 fell 0.84% to 10,348.79 and Italy’s FTSE MIB 30 lost 0.49% to 45,411.79.
France’s CAC 40 dropped 0.67% to 7,908.74, and Spain's IBEX 35 fell 0.64% to 17,444.30.
