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After a decade long dispute, Iran and world powers reached a historic deal early Tuesday for Tehran to curb its nuclear program in exchange for the easing of economic sanctions.

Tehran has been negotiating with the U.S., Britain, France, Germany, Russia and China for years, after extending deadline after deadline in hopes of arriving at a workable plan.

President Barack Obama said the deal ensures that "Iran's pathway to a nuclear weapon" has been cut off.

"Today… we have stopped the spread of nuclear weapons in this region," he said in an early-morning televised statement.

His remarks appeared aimed at reassuring close U.S. allies like Israel and Saudi Arabia, who have vehemently opposed a deal and insisted Iran cannot be trusted with a nuclear program of any kind.

Obama said that if Iran violates the terms of the agreement, sanctions will be snapped back into place.

The deal is "not built on trust," he explained. "It is built on verification."

The U.S. president spoke after Iran's Foreign Minister Javad Zarif called the agreement a "historic moment" and a "win-win solution" with the potential to usher in a "new chapter of hope" in relations.

"We are reaching an agreement that is not perfect for anybody but it is what we could accomplish and it is an important achievement for all of us," he said early Tuesday. "Today could have been the end of hope on this issue but now we are starting a new chapter of hope."

"It's not only a deal," Federica Mogherini said at a press conference formally announcing the accord. "It's a good deal."

The comprehensive agreement — which runs more than 80 pages — was clinched after marathon overnight negotiations in Vienna.

It involves limiting Iran's nuclear production for 10 years and Tehran's access to nuclear fuel and equipment for 15 years in return for hundreds of millions of dollars in sanctions relief. However, the sanctions would not be lifted until Iran proves to the International Atomic Energy Agency that it has met its obligations under the terms of the deal.

The agreement includes the provision of a "snap back" mechanism that could lead to the reinstatement of sanctions within 65 days if Iran violates the terms of the deal, according to officials.

The head of the International Atomic Energy Agency confirmed Iran also has signed a roadmap with his organization to clarify outstanding issues.

"This is a significant step forward," Yukiya Amano told reporters.

United Nations Secretary General Ban Ki-moon said the agreement was a testament to "the value of dialogue."

"I hope — and indeed believe — that this agreement will lead to greater mutual understanding and cooperation on the many serious security challenges in the Middle East," he said in a statement. "As such it could serve as a vital contribution to peace and stability both in the region and beyond."

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Euro zone leaders clinched a deal with Greece on Monday to negotiate a third bailout to keep the near-bankrupt country in the euro zone after all-night talks at an emergency summit.

However, the terms imposed by international lenders led by Germany may put more pressure on leftist Prime Minister Alexis Tsipras, fracture the government and cause an outcry in Greece.

If the summit had failed, Greece would have been staring into an economic abyss with its shuttered banks on the brink of collapse and the prospect of having to print a parallel currency and in time, exit the European monetary union.

"The agreement was laborious, but it has been concluded. There is no Grexit," European Commission President Jean-Claude Juncker told a news conference after 17 hours of bargaining.

He dismissed suggestions that Tsipras had been humiliated by accepting far-reaching, German-inspired terms he long promised to resist.

"In this compromise, there are no winners and no losers," Juncker said. "I don't think the Greek people have been humiliated, nor that the other Europeans have lost face. It is a typical European arrangement."

Tsipras himself, elected five months ago to end five years of suffocating austerity, insisted he and his team "fought a tough battle" but had to make difficult decisions.

Instead, he won conditional agreement to receive a possible 86 billion euros ($95.29 billion) over three years, along with an assurance that euro zone finance ministers would start within hours discussing ways to bridge a funding gap for Greece until a bailout - subject to parliamentary approvals - is finally ready.

German Chancellor Angela Merkel said she could recommend "with full confidence" that the Bundestag authorise the opening of loan negotiations with Athens once the Greek parliament has approved the entire programme and enacted the first laws.

Asked whether the tough conditions imposed on a desperate Greece were not similar to the 1919 Versailles treaty that forced crushing reparations on a defeated Germany after World War One, she said: "I won't take part in historical comparisons, especially when I didn't make them myself."

EU officials said Tsipras finally accepted a compromise on German-led demands for the sequestration of Greek state assets worth 50 billion euros - including recapitalised banks - in a trust fund beyond government reach, to be sold off primarily to pay down debt. In a gesture to Greece, some 12.5 billion euros of the proceeds would go to investment in Greece, Merkel said.

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China stocks may be on the rebound after a tough few weeks.  

The benchmark Shanghai Composite increased 4.5% on Friday, while the smaller Shenzhen Composite added more than 4%.

The performance builds on gains made Thursday, when markets rallied after regulators announced new measures designed to stop the market's slide.

Since June 12, the Shanghai Composite has lost roughly 30%. The Shenzhen market, which has more tech companies and is often compared to America's Nasdaq index, is down nearly 40% over the same period.

Roughly half of the companies traded in China have elected to pull their shares as markets continue their crazy roller-coaster ride. That wouldn't be allowed in the U.S., but it's permitted in China.

The government is doing everything it can to rescue the markets. The People's Bank of China has cut interest rates to a record low, brokerages have committed to buy billions worth of stocks, and regulators have announced a de-facto suspension of new IPOs.

The government-backed China's Securities Finance Corporation -- known as CSF -- is lending billions to big Chinese brokerage firms so they can buy more stocks. Controlling shareholders and board members have been barred from reducing share holdings via the secondary market for six months.

Over the past year, investors poured more and more into Chinese markets. Retail investors -- think mom and pop, average folks -- were the most enthusiastic. A classic bubble developed.

The most compelling theory why the bubble burst: Chinese economic growth is the weakest it's been since 2009. Share prices got way ahead of growth and company profits, which are actually lower than a year ago.

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The Greek government has requested a third international bailout to help pay its debts, and prevent economic collapse and ejection from the euro.

The European Stability Mechanism, which acts as Europe's financial rescue fund, confirmed Wednesday that Greece has applied for a new bailout package.

Greece has already received two massive bailouts worth roughly 240 billion euros ($265 billion), but needs more. The latest bailout program ended last week. Greece then missed a big debt payment to the International Monetary Fund, becoming the first developed economy to default to the fund.

The Greek government has asked for the new rescue package to run for three years and promised to introduce fresh economic reforms in exchange for the money. It also hinted that it would like some form of debt relief from earlier bailouts.

The European Union is expected to decide Sunday whether to grant another bailout program, once it receives more details about Greece's economic plans.

The IMF recently estimated Greece will need at least 50 billion euros ($55 billion). But analysts say the figure will be much higher since the IMF analysis was conducted before Greek banks were forced to shut down, wreaking even more havoc on the economy.

Years of overspending and mismanagement have left the Greek economy in a deep crisis. The government has essentially run out of money, banks have been closed for over a week, and cash withdrawals have been capped for individuals and businesses. Regular people have even stopped driving because they want to conserve any cash they have.

Experts say Greece could soon be forced to print its own currency and ditch the euro if leaders can't agree on a new rescue package.

Finally, a 'Grexit' would be unprecedented in the history of the EU, since members join with the expectation that they will never leave.

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Trading was halted at the New York Stock Exchange on Wednesday morning.

The latest from the NYSE is that all symbols are not trading. "Additional information will follow as soon as possible," the NYSE's website says.

According to CNBC, the halt started at 11:32 a.m. ET and was triggered by "technical issues."

Latest signals got sent before this unexpected halt, due to that - results of evening trade may vary. 

We do not recommend to trade as long as the market is in pause.

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Stocks in China are on free fall right now, and things are not looking good.

Markets across Asia followed China’s key share indexes into the red today despite further efforts from Beijing to stave off the relentless fall in Chinese share prices.

A short time ago the benchmark Shanghai Composite was down more than 5% for the day, having fallen as much as 7%, while the SSE 50 index of the top 50 stocks on the bourse was down more than 7%. The CSI 300 of the largest listed firms on the Shanghai and Shenzhen exchanges was down 7%.

Authorities admitted panic selling had taken hold among Chinese investors.

A China Securities Regulatory Commission spokesman said markets were “full of panic emotion and the number of irrational selling has been increasing”, according to a report in the South China Morning Post.

One-third of the value of Chinese stocks has now been wiped off in three weeks.

The declines come despite a raft of measures from Chinese policymakers in recent weeks designed to boost stock prices. Interest rates have been cut, rules augmented to discourage selling while brokers, asset managers and Chinese insurers have all outlined plans to increase their exposure to the stocks.

More than 1000 listed Chinese companies have temporarily suspended trade on Wednesday in an attempt to avoid the market carnage. While they have escaped the declines for the moment, those firms that are still trading are feeling the full brunt of selling pressure.

The carnage in China is now spreading to other markets across the region. The Hang Seng in Hong Kong has slumped more than 4% while the Nikkei 225 in Japan and ASX 200 in Australia are off by more than 1.1%.

People's Bank of China is saying that it will support market stability by providing liquidity. 

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