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US stocks fell Tuesday as oil prices surged over uncertainty around the Iran war as a Wednesday cease-fire deadline quickly approached.

The Dow Jones Industrial Average slumped 293 points, or 0.6%, while the S&P 500 and Nasdaq each sank 0.6%.

Brent crude oil prices jumped more than 3% to settle at $98.48 a barrel while West Texas Intermediate gained 2.8% to $92.13. National average gasoline prices fell slightly to $4.02 a gallon – still at a roughly 30% premium compared to pre-war prices.


  US stocks fell Tuesday as oil prices surged over uncertainty around the Iran war. Getty Images US stocks fell Tuesday as oil prices surged over uncertainty around the Iran war. Getty Images

Shares in UnitedHealth, however, soared more than 8% as the health insurer became the latest major company to deliver an earnings beat and hike its financial forecasts, signaling a turnaround.

Yet tensions in the Middle East remained high as President Trump said he has no plans to extend a quickly-approaching Wednesday deadline for a temporary cease-fire with Iran.

“Well, I don’t want to do that,” Trump told CNBC’s “Squawk Box” Tuesday when asked about letting talks with Iran continue if they run past tomorrow’s deadline without a peace deal.

He added that if the cease-fire ends Wednesday without a more permanent peace agreement, he is prepared to resume attacks on Iran.

“I expect to be bombing because I think that’s a better attitude to go in with,” he said.

The president also took aim at “treasonous” pols who have been pressuring him to reach a deal, saying he doesn’t “want to be rushed” and that opposition to the war is bad for negotiations.


  Tensions in the Middle East remained high as President Trump said he has no plans to extend a quickly-approaching Wednesday cease-fire deadline. via REUTERS Tensions in the Middle East remained high as President Trump said he has no plans to extend a quickly-approaching Wednesday cease-fire deadline. via REUTERS

  Trump said he is prepared to resume attacks on Iran if a deal is not reached by a Wednesday deadline. EyePress News/Shutterstock Trump said he is prepared to resume attacks on Iran if a deal is not reached by a Wednesday deadline. EyePress News/Shutterstock

In a Truth Social post earlier Tuesday morning, Trump said: “Iran has Violated the Cease Fire numerous times!”

Trump on Monday announced that the US Navy had seized an Iranian cargo vessel, as the two nations vie for control of the Strait of Hormuz – a vital maritime route for 20% of the world’s oil.

He told The Post Monday that he is willing to meet with senior Iranian leaders as he brushed off the regime’s threats to boycott the latest round of peace talks in Pakistan.

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