The wild 24 hours continued across markets after President Trump said the war with Iran could end soon.
Action against Iran is “way ahead” of the expected four- to five-week timeline, Trump said in comments late in the afternoon. He is expected to provide an update on the situation at 5:30 p.m. ET.
Already in the midst of a sharp reversal higher after plunging Sunday evening as oil soared as much as 30%, crypto and stock markets added to their gains following the comments.
Just before the close, the Nasdaq was ahead by 1.25% and the S&P 500 by 0.8%. Bitcoin to just over $69,000, up 2.4% in the last 24 hours.
Meanwhile, oil fell further. After rising 30% to $120 a barrel late Sunday, WTI crude plunged as low as $85, now down 6% for the day.
Crypto-related stocks added to Monday’s gains, with Circle (CRCL) up 10% while Strategy (MSTR) and Coinbase (COIN) were up 5% and 2%, respectively.
