European stocks closed broadly lower on Thursday as concerns about interest rates following the Federal Reserve's hawkish tone rendered the mood bearish. News about U.S. and Iran signing an interim peace plan help limit markets' downside to some extent.
U.S. President Donald Trump and his Iranian counterpart Masoud Pezeshkian electronically signed the "Islamabad Memorandum of Understanding."
The MoU will enter into force with immediate effect and as a first step, Iran will instantly reopen the Strait of Hormuz and the United States will immediately lift the naval blockade of Iranian ports.
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Market Analysis
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.