President Donald Trump said on Truth Social that the U.S. would pause its plan to attack Iran's energy infrastructure until April 6.

Matt Gertken, chief political strategist at BCA, wrote a note to clients on Thursday addressing the implications of the announced pause. "The U.S.'s lower threshold for economic pain suggests Iran will not implement total denuclearization," said Matt Gertken, chief political strategist at BCA.

Gertken projected continued instability in the energy markets beyond the April deadline. "The war will re-escalate around the midterm election, even if investors are lucky enough to avoid a market meltdown in April," said Matt Gertken, chief political strategist at BCA.

U.S. stocks were down again Friday.