Key Highlights
- President Trump announced a 10-day extension on pausing strikes targeting Iran’s energy facilities, establishing an April 6 deadline for compliance.
- Bitcoin experienced a 3%+ decline on Thursday before staging a partial recovery to stabilize around $69,000.
- The Nasdaq tumbled 2.4% during Thursday’s session, marking approximately a 10% decline from its late January highs.
- Treasury yields on 10-year U.S. bonds spiked to 4.43%, fueling speculation that the Federal Reserve might consider rate increases instead of cuts.
- Oil prices surged beyond $103 per barrel for Brent crude amid escalating concerns about Strait of Hormuz shipping disruptions.
Digital assets regained some stability Thursday following President Trump’s announcement of a prolonged pause on potential U.S. military action against Iranian energy targets. The declaration provided temporary respite to markets that had endured significant selloffs earlier in the trading day.
Through his Truth Social platform, Trump announced: “As per Iranian Government request… I am pausing the period of Energy Plant destruction by 10 Days.” He further noted that diplomatic negotiations remain “ongoing” and are progressing “very well.”
Tehran now faces an April 6 deadline to meet American conditions before potential military operations targeting its energy infrastructure could commence.
The leading cryptocurrency had tumbled more than 3% during earlier trading hours. Following the presidential announcement, it rallied approximately 1% from session lows, ultimately stabilizing just north of $69,000.
Alternative digital currencies similarly rebounded from their intraday lows. Ether, XRP, Solana, and Cardano all posted modest gains from their bottom levels, though each remained down between 3% and 5% on a 24-hour basis.
Equity Markets Face Continued Headwinds
The technology-heavy Nasdaq registered a 2.4% decline during Thursday’s trading session. The benchmark index has now retreated approximately 10% from its peak reached in the final days of January.
Equity index futures posted modest advances Friday morning. Both Nasdaq 100 and S&P 500 futures climbed roughly 0.2%, while Dow Jones Industrial Average futures advanced 0.1%.
Nevertheless, the upward movement remained constrained. Market participants maintained a defensive stance as skepticism regarding sustainable diplomatic progress sustained elevated uncertainty levels.
Treasury Yields Surge While Energy Markets Rally
Yields on 10-year U.S. Treasury notes climbed as high as 4.43% during Thursday’s session, marking a substantial increase from levels below 4% registered just weeks prior. By session close, yields had moderated slightly to 4.41%.
This dramatic upward movement has virtually eliminated market pricing for Federal Reserve interest rate reductions. Certain traders have begun positioning for the possibility of rate hikes instead. Comparable dynamics are unfolding across bond markets throughout Western Europe.
Energy commodities also experienced significant appreciation. Brent crude futures traded above the $103 per barrel threshold, while West Texas Intermediate approached $96. Both advances occurred as hostilities persisted throughout the Middle East region and apprehension intensified regarding potential interruptions to maritime traffic through the Strait of Hormuz.
Market observers continue monitoring whether the regional conflict could persist well beyond the April deadline.
Emerging reports indicate Iranian leadership remains hesitant to engage in direct negotiations with Washington, despite ongoing review of an American diplomatic proposal. This persistent ambiguity continues exerting downward pressure on markets entering the weekend trading period.
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