Washington DC [US], June 18 (ANI): US President Donald Trump on Thursday announced that stock markets have hit a record high, and oil prices have come down following his Iran deal.

In a post on Truth Social, he said, 'These fools, who think I haven't been tough enough on Iran, when the Stock Market Just Hit A RECORD HIGH, and Oil prices are 'tumbling' down, are either jealous, bad people, or stupid. MAKE AMERICA GREAT AGAIN!!! President DJT.'

https://x.com/WhiteHouse/status/2067393004239814711?s=20

As per ABC News report, world shares were mixed on Thursday after the US and Iran signed their initial agreements on the war.

The rally in Asia followed a retreat Wednesday on Wall Street driven by speculation the Federal Reserve may raise interest rates this year to curb inflation. US futures were higher early Thursday, while oil prices fell, as per ABC News.

The agreement marks a significant diplomatic development between Washington and Tehran. According to CNN, US President Donald Trump and Iranian President Masoud Pezeshkian virtually signed the 14-point memorandum aimed at ending hostilities between the two countries, reopening the Strait of Hormuz and launching a 60-day process to negotiate a comprehensive final agreement.

CNN reported that a White House official confirmed Trump personally signed the document on Wednesday while in France, while Pezeshkian signed it separately, bringing the agreement into immediate effect.

The United States subsequently released the official text of the 'Islamabad Memorandum of Understanding between the United States of America and the Islamic Republic of Iran.'

A senior US administration official described the agreement as a framework designed to reopen the Strait of Hormuz immediately, address Iran's stockpile of enriched uranium and create a pathway for phased economic relief tied to Tehran's compliance with the deal.

According to Iran's Press TV, Foreign Ministry spokesperson Esmaeil Baghaei confirmed that the memorandum had been finalised and signed by both sides following consultations involving Oman and other countries. (ANI)