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Commodities

Trump's Iran U-Turn Sends Stocks Soaring as Oil Prices Plunge

Guavy AI Editorial Team
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Oil
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Stocks on Wall Street rose Monday after President Donald Trump announced he would hold off on new strikes against Iran, easing worries about inflation and leading to a decline in oil prices.

The Dow Jones Industrial Average surged by 711 points, or 1.4%, as of 10:15 a.m. Eastern time, while the S&P 500 rose 1% following its wild July performance.

Oil prices plummeted after Trump's announcement, with Brent crude falling 5.4% to $83.17 per barrel, down from its recent highs between $72 and $102 last month due to concerns about the war with Iran affecting oil tankers in the Persian Gulf.

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