Overview

• President Donald Trump demanded Iran’s unconditional surrender in Truth Social posts and is considering a military strike on Ayatollah Ali Khamenei
• Oil prices rose more than 4%, with U.S. crude closing at $74.84 per barrel and Brent at $76.45, after Trump’s statements
• Asia-Pacific stock futures were set lower, reflecting concerns over expanded U.S. involvement in the five-day Israel-Iran conflict
• U.S. stock futures edged down after all three major indexes fell Tuesday, with investors bracing for Wednesday’s Fed rate decision
• Japan’s exports dropped 1.7% in May, marking the sharpest year-on-year decline since September 2024 and highlighting trade pressures