India, May 22 -- Amid the ongoing market crisis over the US-Iran war, a report on Thursday, May 21, sparked confusion. The report, from Saudi state-owned media outlet Al Arabiya, claimed, citing sources, that a peace deal between Iran and the United States and the Iran has been reached with mediation by Pakistan. The deal is expected to be announced soon, the report claimed.

According to Al Arabiya, "serious efforts" are underway to finalize a draft agreement. It claimed that Pakistan's army chief is expected to visit Iran in the next couple of days, and the final round of negotiations between the US and Iran will take place "after the Hajj season" in Islamabad. Many noted on social media that the confusion around the news even sparked s...