Trump announces two-week ceasefire in Iran

With just 90 minutes until Tuesday's looming 8 pm deadline for US strikes in Iran, President Donald Trump announced a two-week ceasefire.

In a post on Truth Social, Trump announced the deal is "subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz."

Moments after Trump's post, the Dow shot several hundred points upward, and WTI crude futures slid by 15 percent to about 96 dollars a barrel.