Stocks surged and oil costs tumbled after President Donald Trump on Monday stated the United States would postpone additional strikes on Iran, pending the result of negotiations.
Dow futures roared higher, set to rise about 1,200 points, or 2.4%.
S&P 500 futures rose 2.3%, and Nasdaq futures gained 2.5%. The Nasdaq had closed on the verge of correction Friday – a decline of 10% from a latest peak.
Brent crude fell 10% to $101 a barrel. US crude fell 9% to $89 a barrel.
Trump, in his put up, stated the discussions would happen over the course of the week. But it’s unclear whether or not Iran would reopen the Strait of Hormuz, which has choked off 20% of the world’s oil provide.
This is a creating story and will probably be up to date.