Latest Iran Offer on War is Not Enough, Says White House
Get Caught Up.
Hopes for a breakthrough in the standoff between Iran and the United States over the closure of the Strait of Hormuz were once again dashed this afternoon. Iran has given an updated proposal for a deal to end to the conflict, Axios reported but the US sees it as insufficient.
While earlier reports had fueled market optimism, Wall Street’s rebound attempt failed, with stocks falling as oil rose. In a volatile session, the S&P 500 erased gains as Brent crude topped $110.