PresidentDonald Trumpsaid Friday in a social media post that there would be no deal to end theU.S. war against Iranwithout an "UNCONDITIONAL SURRENDER" by Iran.
TheDow Jones Industrial Average dropped more than 900 points, or nearly 2%, after Trump's demand, which hewrote on Truth Social. The S&P 500and Nasdaq Composite fell 1.6% each.
Trump said that after a surrender and "the selection of a GREAT & ACCEPTABLE Leader(s), we, and many of our wonderful and very brave allies and partners, will work tirelessly to bring Iran back from the brink of destruction, making it economically bigger, better, and stronger than ever before."
"IRAN WILL HAVE A GREAT FUTURE. "MAKE IRAN GREAT AGAIN (MIGA!)" Trump wrote.
Thefutures price of the global benchmark Brent crude oilrose, breaking $90 per barrel, after Trump posted his demand.
Qatar's energy minister, Saad al-Kaabi, warned Friday that rising oil prices due to the war against Iran "could bring down the economies of the world."
Al-Kaabi toldThe Financial Timesthat crude oil prices could hit as high as $150 per barrel within weeks if tankers cannot pass through the Strait of Hormuz. The last time oil topped $100 a barrel was when Russia invaded Ukraine in 2022.
Trump's demand came as Iran hasyet to pick a leaderto replace Supreme LeaderAyatollah Ali Khamenei, who was killed last weekend in an airstrike at the beginning of the war by the U.S. and Israel.
Trump in June made an identical demand of "UNCONDITIONAL SURRENDER" by Iran in another social media post as he considered launching a military strike against that nation.
Source: Drudge Report
