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The ceasefire between Iran and Israel does not seem to be holding after Iranian and Israeli media reported sounds of explosions in Tehran, Iran’s capital city, on Tuesday.
"All planes will turn around and head home, while doing a friendly 'Plane Wave' to Iran. Nobody will be hurt, the Ceasefire is in effect!" Trump said in a post on Truth Social right before the attacks were reported. He even told reporters that he is looking to get Israel to “calm down.”
U.S. markets continued to trade in the green despite the developments. The SPDR S&P 500 ETF (SPY) gained 0.7% in pre-market trade on Tuesday, while the SPDR Dow Jones Industrial Average Index (DIA) rose 0.6%.
According to a Reuters report citing local media, Israel strikes hit an Iranian radar site near Tehran.
In another report, Reuters said Israeli media confirmed the U.S. President did get on a call with Israeli Prime Minister Benjamin Netanyahu, urging him to stand down. However, Netanyahu told Trump he could not cancel the attack, and some retaliation was needed against Iran’s violation of the ceasefire.
The developments have raised doubts about the ceasefire, which was intended to end 12 days of war. Oil prices also reversed their gains in morning trade.
In a post on X, Israeli Defence Minister Israel Katz had said earlier on Tuesday that the country would be striking back against Iran. He claimed that Iran had already violated the ceasefire announced by Trump, and that Israel has the right to “respond forcefully to any violation.”
Thus far, Iran has denied launching any missiles. It claims that Israel's attacks had continued for an hour and a half beyond the time the ceasefire was meant to start.
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Read also: Trump Warns Israel Not to Strike Iran, Oil Prices Reverse Decline Amid Ceasefire Uncertainty