Iran conflict update: Vance drops Pakistan visit; Trump extends ceasefire; oil whipsaws as crypto and stocks reel

Markets were jolted by a rapid-fire series of Iran-related headlines, triggering sharp swings across oil, equities and crypto. The Associated Press reported that JD Vance canceled a planned trip to Pakistan. Bitcoin slid to about $74,000 as oil spiked to $92 and the S&P 500 fell, with roughly $240 million in crypto long positions liquidated. After President Donald Trump said the ceasefire would be extended, risk assets stabilized: Bitcoin rebounded to near $76,000, oil fell back below $90, and the S&P 500 moved toward erasing earlier losses. Traders described the pace and reversals as a day-trader's nightmare.