President Donald Trump’s Truth Social post on Monday morning asserting “VERY GOOD AND PRODUCTIVE CONVERSATIONS” with Iran despatched the markets right into a frenzy — and CNBC tracked it reside.
Moments after Trump’s publish went up, Dow Jones futures skyrocketed by 1,100 points, whereas oil futures plummeted. Joe Kernen and Becky Quick — the co-hosts of CNBC’s Squawk Box — reduce off an interview with a visitor to seize the real-time market response.
“Hold on for just a second, please,” Quick advised the present’s visitor.
“I gotta see this Truth Social post,” Kernen added. “Look at the futures!”
Kernen proceeded to tug the publish up on his cellphone and skim it to the viewers — during which Trump wrote, “I HAVE INSTRUCTED THE DEPARTMENT OF WAR TO POSTPONE ANY AND ALL MILITARY STRIKES AGAINST IRANIAN POWER PLANTS AND ENERGY INFRASTRUCTURE FOR A FIVE DAY PERIOD, SUBJECT TO THE SUCCESS OF THE ONGOING MEETINGS AND DISCUSSIONS.”
“Obviously, the markets reacting with some relief over that,” Quick stated.
“Ya think?!” Kernen replied.
The Squawk Box hosts went on to test the numbers, and the rapid 12.7 p.c decline of WTI crude oil drew a candid response from Quick.
“Wow!” Quick stated.
Kernen — a right-leaning analyst — mocked the TACO moniker, which many buyers have derisively given Trump. (TACO is brief for “Trump always chickens out.”)
“Cue the TACO scuttle from the left and from Democrats, because I don’t know how long it will take us to see that,” Kernen stated. “Because they’re not happy when the war is going on. They won’t be happy when it’s over.”
Watch above, through CNBC.
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