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Markets Slip as Investors Bet on Extended U.S.–Iran Ceasefire

  Stocks Edge Lower as Investors Hope U.S.–Iran Ceasefire Will Hold Stocks drifted lower today as markets balanced cautious optimism over a potential extension of the U.S.–Iran ceasefire with persistent geopolitical and inflation concerns. Recent trading sessions have shown that even modest signs of diplomatic progress can meaningfully shift investor sentiment. Asian and U.S. markets rallied earlier this week on hopes that Washington and Tehran would continue negotiations, helping unwind some of the war-driven risk premiums that had pushed oil and volatility higher. Despite the pullback, investors remain hopeful that the ceasefire—currently set to expire soon—will be extended, giving negotiators more time to work toward a longer-term agreement. Reports indicate both sides are considering adding another two weeks to the pause, a move that has already helped push Brent crude below the recent peak of nearly US$120 per barrel. Lower oil prices have eased pressure on inflation expecta...
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UN Report Accuses Israel of 'Extermination' in Gaza Schools and Religious Sites

A recent report by the United Nations Independent International Commission of Inquiry has accused Israel of committing the crime against humanity of "extermination" in Gaza. The report states that Israeli forces targeted civilians sheltering in schools and religious sites, leading to widespread destruction and loss of life.

The commission, chaired by former UN High Commissioner for Human Rights Navi Pillay, highlighted that over 90% of Gaza’s school and university buildings and more than half of all religious and cultural sites have been destroyed. The report describes these actions as part of a "concerted campaign to obliterate Palestinian life".

Israel disengaged from the UN Human Rights Council earlier this year, citing bias. Israeli officials have previously dismissed similar accusations as "biased and antisemitic". The conflict, which began in October 2023 following a Hamas-led attack on Israel, has resulted in over 54,000 Palestinian deaths, according to Gaza health authorities.

The commission's findings have intensified international scrutiny, with calls for Israel to cease attacks on educational, cultural, and religious institutions. The report is set to be presented to the UN Human Rights Council on June 17.

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