{"id":556069,"date":"2026-03-23T21:25:11","date_gmt":"2026-03-23T21:25:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/556069\/"},"modified":"2026-03-23T21:25:11","modified_gmt":"2026-03-23T21:25:11","slug":"stocks-rally-and-oil-sinks-after-trump-hints-at-a-possible-end-to-war-even-as-iran-denies-talks","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/556069\/","title":{"rendered":"Stocks rally and oil sinks after Trump hints at a possible end to war, even as Iran denies talks"},"content":{"rendered":"\n

NEW YORK (AP) \u2014 A cautious relief swept through financial markets Monday after President Donald Trump<\/a> said the United States has talked with Iran<\/a> about a possible end to their war<\/a>. Oil prices eased, and stock prices rose on Wall Street following severe losses taken elsewhere in the world before Trump\u2019s announcement.<\/p>\n

The price for a barrel of Brent crude fell 10.9% to settle at $99.94, down from nearly $120 at one point last week<\/a>, after Trump said the United States and Iran held productive talks the last two days \u201cregarding a complete and total resolution of our hostilities in the Middle East.\u201d The S&P 500 climbed 1.1% for its best day since the war began.<\/p>\n

The market\u2019s moves were tentative, though, after Iran denied such talks took place and Iranian parliament speaker Mohammad Bagher Qalibaf said that \u201cfakenews is used to manipulate the financial and oil markets\u201d in a posting on X. The Dow Jones Industrial Average went from a surge of nearly 1,135 points during the morning to a more modest gain of 540 before accelerating to finish with a climb of 631.<\/p>\n

Over the weekend, Trump had threatened to \u201cobliterate\u201d Iran\u2019s power plants if it doesn\u2019t open up the Strait of Hormuz<\/a> within 48 hours. The narrow waterway off Iran\u2019s coast has become a sore point for Trump<\/a> and the economy because a sharp slowdown in traffic is preventing oil tankers from leaving the Persian Gulf to supply customers around the world.<\/p>\n

Trump said Monday that he is postponing attacks on Iranian power plants for five days to allow talks to continue. Quickly afterward, though, came the denials from Iran about talks, while Iran\u2019s semiofficial Fars and Tasnim news agencies portrayed the American president as backing down.<\/p>\n

Turkey and Egypt, meanwhile, said they had spoken to the warring parties, the first sign of coordinated mediation, which could be an encouraging signal.<\/p>\n

Amid all the developments, the price of Brent crude fell as low as $96 immediately after Trump announced the postponement but quickly recovered a chunk of that loss. Benchmark U.S. crude had a similar reaction, immediately dropping toward $84 per barrel before yo-yoing back above $92 and then settling at $88.13, down 10.3% from Friday.<\/p>\n

Financial markets have had vicious swings,<\/a> both up and down, since the war began because of uncertainty about how long it may last. The fear is that a long-term disruption could keep so much oil and natural gas off global markets that it creates a punishing wave of inflation for the global economy.<\/p>\n

The swings of the past few weeks are similar to, but not as dramatic<\/a> as, those that hit last year when Trump shocked the global economy on \u201cLiberation Day.\u201d Many of his worldwide tariffs ended up being milder than he initially threatened, and the back-and-forth in negotiations led to historic moves up and down.<\/p>\n

Story Continues <\/p>\n

Monday\u2019s overriding reaction in financial markets was nevertheless one of relief. The S&P 500 rose 74.52 points to 6,581.00. The Dow climbed 631.00, or 1.4%, to 46,208.47, and the Nasdaq composite jumped 299.15, or 1.4%, to 21,946.76.<\/p>\n

In Europe, stock indexes immediately flipped from losses to gains following Trump\u2019s announcement. France\u2019s CAC 40 rose 0.8%, and Germany\u2019s DAX returned 1.2%.<\/p>\n

That compares with sharp drops for Asian stock markets, which finished trading before Trump made his announcement. South Korea\u2019s Kospi careened 6.5% lower, Japan\u2019s Nikkei 225 dropped 3.5% and Hong Kong\u2019s Hang Seng fell 3.5%.<\/p>\n

Treasury yields also eased in the bond market following Trump\u2019s announcement. High Treasury yields and disruption in the bond market<\/a> were factors that Trump named a year ago when he backed off his initial threats for global tariffs. The moves caused critics to allege Trump always chickens out, or \u201cTACO,\u201d if financial markets show enough pain.<\/p>\n

Like oil prices, Treasury yields still remain well above where they were before the war began, even after Monday\u2019s drop. The worry is that high oil prices could keep the Federal Reserve and other central banks from cutting interest rates, which would give the global economy and prices for investments a boost.<\/p>\n

The yield on the 10-year Treasury fell to 4.35% from 4.39% late Friday. But it remains solidly above its 3.97% level from just before the war.<\/p>\n

On Wall Street, companies with big fuel bills that will benefit from any easing of oil prices led the market. Norwegian Cruise Line Holdings surged 6.2%, while United Airlines climbed 4.5%, and American Airlines rose 3.6%. All, though, are still down for the year so far.<\/p>\n

Stocks of smaller companies were also particularly strong, and the Russell 2000 index of smaller stocks jumped a market-leading 2.3%. It had dropped last week to 10% below its record, a sharp enough fall that professional investors have a name for it: a \u201ccorrection.\u201d<\/p>\n

The S&P 500, which is the main measure of the U.S. stock market\u2019s strength, pulled back within 5.7% of its own all-time high set early this year.<\/p>\n

___<\/p>\n

AP Business Writers Yuri Kageyama, Matt Ott and Chan Ho-him contributed.<\/p>\n

Stan Choe, The Associated Press<\/p>\n","protected":false},"excerpt":{"rendered":"NEW YORK (AP) \u2014 A cautious relief swept through financial markets Monday after President Donald Trump said the…\n","protected":false},"author":2,"featured_media":556070,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48,1376,14380,7898,2297,5897,215481,9891,3097,195948,772],"class_list":["post-556069","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada","tag-donald-trump","tag-financial-markets","tag-global-economy","tag-global-markets","tag-iran","tag-mohammad-bagher-qalibaf","tag-oil-prices","tag-stock-markets","tag-the-united-states-and-iran","tag-united-states"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/556069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=556069"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/556069\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/556070"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=556069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=556069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=556069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}