Dow soars 1,000 points and oil prices fall sharply on hopes for an end to the Iran war
Michael Capolino works on the floor at the New York Stock Exchange in New York, Thursday, March 19, 2026. (AP Photo/Seth Wenig)
NEW YORK (AP) — Relief is ripping through financial markets Monday after President Donald Trump said the United States has talked with Iran about a possible end to their war. Oil prices are easing, and stock prices are jumping on Wall Street following severe losses elsewhere in the world before Trump's announcement.
The price for a barrel of Brent crude fell 12.5% to $98.19, down from nearly $120 at one point last week, after Trump said the United States and Iran held productive talks the last two days "regarding a complete and total resolution of our hostilities in the Middle East." The S&P 500 leaped 2% and was flirting with its best day since last summer following the step down in tensions, even though Iran denied such talks took place.
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