The U.S. and Iran were set to meet in Islamabad, Pakistan, on April 11 (local time) to discuss ending hostilities, but deep policy gaps cast doubt on whether negotiations could succeed, sending U.S. markets to a mixed open on April 9.
At 9:42 a.m. on the New York Stock Exchange, the Dow Jones Industrial Average was down 0.19% from the previous close. The S&P 500 was slightly lower, while the Nasdaq Composite rose 0.11%.
The White House said Vice President J.D. Vance, President Donald Trump’s eldest son-in-law Jared Kushner, and Trump’s Middle East envoy Steve Witkoff will travel to Islamabad for talks with Iran. Iran plans to have Parliament Speaker Mohammad Bagher Ghalibaf lead its delegation.
The U.S. and Iran agreed to a two‑week truce, but analysts warned the negotiations could stall because the two sides sharply disagree over terms for a lasting end to the conflict. Iran has presented demands that include maintaining control of the Strait of Hormuz; ending hostilities on all fronts; withdrawing U.S. combat forces from all bases and locations across the Middle East; and compensation from the United States for war damage. The White House said, “President Trump and his negotiating team threw that proposal in the trash.”
Reports indicate Iran intends to keep its blockade of the Strait of Hormuz in place despite the truce, limiting passage to no more than 15 vessels per day.
