Iran Fires Missiles and Drones as U.S. Nears 60-Day Truce Deal
Updated
Updated · CNBC · May 28
Iran Fires Missiles and Drones as U.S. Nears 60-Day Truce Deal
11 articles · Updated · CNBC · May 28
Iran's forces fired missiles late Thursday and, earlier, launched a ballistic missile toward Kuwait and attack drones near the Strait of Hormuz, even as a temporary ceasefire appeared close.
A White House official said Washington and Tehran had "mostly agreed" to terms for a deal to halt their three-month conflict, matching an earlier Axios report of a 60-day pause tied to nuclear talks.
Markets reflected that split picture: Japan and Australia futures pointed higher, Hong Kong futures edged lower, and U.S. stock futures were little changed after the S&P 500 and Nasdaq closed at fresh records.
Those Wall Street gains were driven by tech, with Snowflake surging 36.5% after upbeat guidance and a $6 billion five-year Amazon Web Services spending plan revived AI-trade enthusiasm.
With missiles flying amidst truce talks, is this 60-day deal a path to peace or a tactical pause before a larger war?
While a temporary peace deal is near, is Iran's new toll system creating a permanent new reality for global trade?
Fragile U.S.-Iran Truce of 2026: Regional Instability and the Global Economic Impact
Overview
As of May 28, 2026, the United States and Iran reached a preliminary memorandum of understanding, following an April ceasefire aimed at reducing regional tensions. While this agreement marks a hopeful step, its fragility is clear, especially as Israel has intensified attacks in Lebanon, causing fatalities and mass displacement. The ongoing violence in Lebanon, where Iran-backed Hezbollah has escalated its actions, highlights disagreements over the truce’s scope. The U.S. and Iran’s efforts to negotiate are challenged by these unresolved conflicts, making the path to lasting peace uncertain and underscoring the region’s continued volatility.