Markets Brace for Trump's Iran Deadline: "A Known Unknown with a Clock"

Global markets reacted nervously Monday as a key deadline set by former U.S. President Donald Trump approaches. Oil prices rose while stock prices fell, reflecting investor anxiety. The uncertainty centers on Tuesday, May 12. This is the date Trump has set for world powers to fix what he calls "flaws" in the 2015 Iran nuclear deal. If not, he has threatened to re-impose severe economic sanctions on Iran. Sanctions would likely restrict Iran's oil exports, removing significant supply from the global market. This prospect pushed oil prices higher. "The situation is unique and could heavily impact markets," said one investment adviser. "It's a known unknown with a clock ticking." Investors are now waiting to see if European allies can present a solution that satisfies Trump by the deadline, or if the sanctions will return.