The World in Brief from The Economist

Global stock markets tumbled as investors worried that American interest rates might rise and that investment in AI will not generate the profits they expected. Also, Iran said it had “no plans” to admit nuclear inspectors. America’s president accused Iran of making “false statements”,

America lifted sanctions on Iranian oil and petrochemical exports for 60 days. Also, J.D. Vance said Iran had agreed to admit UN nuclear-weapons inspectors.

Andy Burnham was sworn in as an MP.

The former mayor of Greater Manchester is the most probable successor to Sir Keir Starmer as leader of Britain’s Labour Party and thus prime minister. Also, J.D. Vance said Iran had agreed to host UN nuclear weapons inspectors.

Sir Keir Starmer resigned as Britain’s prime minister and leader of the Labour party after nearly two years in office. Also, American and Iranian officials concluded a round of talks in Switzerland over the next stage of their peace deal.

American and Iranian officials began talks in Switzerland over the next stage of their peace deal.

American and Iranian officials began talks in Switzerland over the next stage of their peace deal.

Iran said it had closed the Strait of Hormuz because of what it called a violation of the latest ceasefire by Israel.