Tehran stocks unshaken by US nuclear deal pullout
Iran nuclear deal seems to be on life-support these days, as the United States has unilaterally pulled out of the accord and other signatories are making frantic efforts to hold the deal together.
That screams risk for the Iranian economy, evident in some foreign businesses' sudden disillusionment with Iran and announcements of halting operations in the country by the yearend.
Tehran stocks, however, seem to have taken it the other way round. The day after US President Donald Trump announced the pullout decision, stocks had a much muted reaction while most expected a freefall.
In fact, the US withdrawal served as a threshold for stocks to rebound, as ambiguities surrounding the fate of the deal, otherwise known as the Joint Comprehensive Plan of Action, had paralyzed trade since the current fiscal year began on March 21. In other words, Trump's decision to pull out of the nuclear deal cleared up the air.
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