Iran-US war latest: Trump cancels Witkoff and Kushnerâs trip to Pakistan as hopes for peace talks fade

The cancellation of Jared Kushner and David Witkoff’s planned trip to Pakistan under Trump’s directive signals diminishing prospects for U.S.-Iran de-escalation through regional diplomatic channels. This development weakens the perceived likelihood of near-term bilateral talks, tightening geopolitical risk premiums in energy and equity markets sensitive to Middle East supply disruptions. Heightened war risk elevates safe-haven demand for gold and U.S. Treasuries while pressuring emerging market assets, particularly those with regional exposure or energy import dependencies. The absence of direct communication avenues increases reliance on indirect backchannels, leaving oil markets vulnerable to sudden volatility. Traders will watch the next U.S. EIA crude inventory report and Iranian naval activity in the Strait of Hormuz as immediate indicators of escalating tensions.

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