Markets shoot higher and oil futures sink after Trump announces progress with Iran, halt on bombing
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President Donald Trump announced progress with Iran and a halt on bombing, causing markets to shoot higher and oil futures to sink. The news led to a rise in futures for the S&P 500 and Dow Jones Industrial Average, and a drop in oil prices, with benchmark US crude sliding to $92.85 a barrel.
Markets rose and oil futures fell after President Trump announced progress with Iran. The S&P 500 and Dow Jones Industrial Average futures increased by 1.3% and 1.2% respectively. Oil prices dropped, with US crude falling to $92.85 a barrel and Brent crude to $106.25 a barrel. European markets also jumped higher, with France's CAC 40 rising 1.2% and Germany's DAX climbing 0.8%. The news came as the US war with Iran enters its fourth week. Trump had previously warned of strikes against Iranian power plants, but the situation appears to have eased.
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