Stocks rally and oil sinks after Trump hints at a possible end to war, even as Iran denies talks
Stocks rallied and oil prices sank after President Donald Trump hinted at a possible end to the war with Iran, despite Iran denying any talks took place. The S&P 500 climbed 1.1% and the price of Brent crude fell 10.9% to settle at $99.94, following Trump's announcement of productive talks with Iran.
Stocks rose on Wall Street after President Donald Trump said the US has talked with Iran about ending their war. Oil prices eased, with Brent crude falling 10.9% to $99.94. The S&P 500 climbed 1.1% and the Dow Jones Industrial Average rose 631 points. Iran denied any talks took place, but Turkey and Egypt said they had spoken to the warring parties, potentially signaling coordinated mediation. The price of US crude also dropped, settling at $88.13, down 10.3% from Friday. Financial markets have had significant swings since the war began, due to uncertainty about its duration and potential impact on the global economy.
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