2 hours ago
3
NEW YORK (AP) — A cautious alleviation swept done fiscal markets aft President Donald Trump said the United States has talked with Iran astir a imaginable extremity to their war. Oil prices eased Monday, and banal prices jumped connected Wall Street pursuing terrible losses taken elsewhere successful the satellite earlier Trump’s announcement. The S&P 500 rallied 1.1% for its champion time since the warfare began. The Dow Jones Industrial Average roseate 1.4%, and the Nasdaq composite climbed 1.4%. Brent crude fell backmost beneath $100 per barrel. But the moves were adjacent sharper successful the morning, earlier Iranian officials denied that talks were underway with the United States.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier communicative follows below.
NEW YORK (AP) — A cautious alleviation flowed done fiscal markets Monday aft President Donald Trump said the United States has talked with Iran astir a imaginable extremity to their war. Oil prices eased, and banal prices jumped connected Wall Street pursuing terrible losses taken elsewhere successful the satellite earlier Trump’s announcement.
The terms for a tube of Brent crude fell 10.9% to settee astatine $99.94, down from astir $120 astatine 1 constituent past week, aft Trump said the United States and Iran held productive talks the past 2 days “regarding a implicit and full solution of our hostilities successful the Middle East.” The S&P 500 rallied 1.7% toward its champion time since the warfare began.
The market's moves were tentative, though, aft Iran denied specified talks took spot and Iranian parliament talker Mohammad Bagher Qalibaf said that “fakenews is utilized to manipulate the fiscal and lipid markets” successful a posting connected X. The Dow Jones Industrial Average went from a surge of astir 1,135 points during the greeting to a overmuch much humble summation of 540 earlier accelerating backmost to a ascent of astir 870, with an hr remaining successful trading.
Over the weekend, Trump had threatened to “obliterate” Iran’s powerfulness plants if it doesn’t unfastened up the Strait of Hormuz wrong 48 hours. The constrictive waterway disconnected Iran's seashore has go a sore constituent for Trump and the system due to the fact that a crisp slowdown successful postulation determination is preventing lipid tankers from leaving the Persian Gulf to proviso customers astir the world.
Trump said Monday that helium is postponing attacks connected Iranian powerfulness plants for 5 days to let talks to continue. Quickly afterward, though, Iranian authorities media cited Iranian officials arsenic denying immoderate talks similar Trump described and said Trump had backed down “following Iran’s steadfast warning.”
The terms of Brent crude fell arsenic debased arsenic $96 instantly aft Trump announced the postponement but rapidly recovered a chunk of that loss. Benchmark U.S. crude had a akin reaction, instantly dropping toward $84 per tube earlier yo-yoing backmost supra $92 and past settling astatine $88.13, down 10.3% from Friday.
Financial markets person had vicious swings, some up and down, since the warfare began due to the fact that of uncertainty astir however agelong it whitethorn last. The fearfulness is that a semipermanent disruption could support truthful overmuch lipid and earthy state disconnected planetary markets that it creates a debilitating question of ostentation for the planetary economy.
The swings of the past fewer weeks are akin to, but not arsenic melodramatic as, those that deed past twelvemonth erstwhile Trump shocked the planetary system connected “Liberation Day.” Many of his worldwide tariffs ended up being milder than helium initially threatened, and the back-and-forth successful negotiations led to historical moves up and down.
Still, Monday's overriding absorption successful fiscal markets was 1 of relief. The Dow Jones Industrial Average was up 861 points, oregon 1.9%, with an hr remaining successful trading, and the Nasdaq composite was 1.8% higher.
In Europe, banal indexes instantly flipped from losses to gains pursuing Trump’s announcement. France’s CAC 40 roseate 0.8%, and Germany’s DAX returned 1.2%.
That compares with crisp drops for Asian banal markets, which finished trading earlier Trump made his announcement. South Korea’s Kospi careened 6.5% lower, Japan’s Nikkei 225 dropped 3.5% and Hong Kong’s Hang Seng fell 3.5%.
Treasury yields besides eased successful the enslaved marketplace pursuing Trump’s announcement. High Treasury yields and disruption successful the enslaved marketplace were large factors that Trump named a twelvemonth agone erstwhile helium backed disconnected his archetypal threats for planetary tariffs. The moves caused critics to allege Trump ever chickens out, oregon “TACO,” if fiscal markets amusement capable pain.
Like lipid prices, Treasury yields inactive stay good supra wherever they were earlier the warfare began, adjacent aft Monday's drop. The interest is that precocious lipid prices could support the Federal Reserve and different cardinal banks from cutting involvement rates, which would springiness the planetary system and prices for investments a boost.
The output connected the 10-year Treasury fell to 4.33% from 4.39% precocious Friday. But it remains solidly supra its 3.97% level from conscionable earlier the war.
On Wall Street, companies with large substance bills that volition payment from immoderate easing of lipid prices led the market. Norwegian Cruise Line Holdings surged 7.3%, portion United Airlines climbed 4.9%, and American Airlines roseate 4.9%. All, though, are inactive down for the twelvemonth truthful far.
Stocks of smaller companies were besides peculiarly strong, and the Russell 2000 scale of smaller stocks jumped 3%. It had dropped past week to 10% beneath its record, a crisp capable autumn that nonrecreational investors telephone it a “correction.”
The S&P 500, which is the main measurement of the U.S. banal market’s strength, pulled backmost wrong 6% of its ain all-time precocious acceptable aboriginal this year.
___
AP Business Writers Yuri Kageyama, Matt Ott and Chan Ho-him contributed.
Copyright 2026 The Associated Press. All rights reserved. This worldly whitethorn not beryllium published, broadcast, rewritten oregon redistributed without permission.
English (US) ·