US Stocks and Cryptocurrencies Rally as Trump Delays Iran Strikes

TLDR

• US stock futures experienced a significant decline Monday morning following Iran’s new attacks, which came after President Trump’s threats against Iranian energy infrastructure.
• President Trump subsequently announced a postponement of military strikes on Iran, citing “productive conversations” with Tehran.
• Futures then reversed their trend, with Dow, S&P 500, and Nasdaq futures all surging by over 2%.
• Oil prices briefly exceeded $100 a barrel before retreating after Trump’s announcement helped to de-escalate tensions.
• The Russell 2000 small-cap index had previously confirmed correction territory, trading more than 10% below its January record high.

(SeaPRwire) –   US stocks experienced a sharp downturn Monday morning before executing a strong recovery after President Trump indicated he would hold off on military action against Iran, following what he described as “productive conversations” with Tehran.

BREAKING: President Trump says the US and Iran “have had very good and productive conversations regarding a complete and total resolution” of the Iran War.

Trump has ordered the Department of War to postpone “any and all strikes” against Iranian power plants. pic.twitter.com/TA80v7iMpk

— The Kobeissi Letter (@KobeissiLetter) March 23, 2026

Futures for the Dow Jones Industrial Average saw a drop of approximately 0.8% early in the trading session. S&P 500 futures declined by 0.7%, and Nasdaq 100 futures led the market’s losses, falling around 1%.

Earlier in the day, Iran had initiated further attacks. This action followed a weekend ultimatum from President Trump, who warned of strikes on Iranian energy infrastructure if the Strait of Hormuz remained closed beyond 48 hours.

Iran’s Revolutionary Guards had previously threatened to target Israel’s power plants and facilities supplying US bases in the Gulf if Trump proceeded with his vow to “obliterate” Iran’s power network.

Markets were already in a state of heightened concern, having experienced four consecutive weeks of losses on Wall Street. Last week, the Nasdaq recorded its most significant weekly decline since early February.

Oil Tops $100 Before Pulling Back

As the conflict intensified, oil prices saw a substantial increase. West Texas Intermediate crude futures climbed to touch $100 a barrel. Brent crude, the global benchmark, rose above $113 a barrel.

Elevated oil prices typically raise concerns about inflation and the Federal Reserve’s interest rate decisions. Gold futures, which had shown gains for the year, reversed their 2026 increases due to fears that the Fed might maintain steady rates for a longer period.

President Trump then altered the course of action. He announced that the US military would postpone strikes following “productive conversations” with Iran. Markets experienced a rapid reversal.

Stocks Stage Sharp Recovery

By midday, Dow futures had surged by over 1,100 points, marking an increase of approximately 2.5%. S&P 500 futures rose by more than 2.3%, and Nasdaq 100 futures climbed 2.4%.

Europe’s STOXX 600 index shifted to positive territory. Precious metals also saw gains. Following the announcement, oil prices experienced a sharp decline.

The CBOE Volatility Index, commonly referred to as Wall Street’s fear gauge, decreased after reaching its highest point in two weeks. It was last observed down around 4 points at 22.79.

Russell 2000 futures, which track small-cap stocks, jumped 4.7% after being down more than 1% earlier in the session. The small-cap index had closed Friday more than 10% below its January 22 record high, confirming its entry into correction territory.

Chris Beauchamp, chief market analyst at IG Markets, commented: “This is clearly a postponement, not a complete ceasefire, and we will observe future developments. What has occurred has not been undone, so the full impact remains to be seen, but markets are evidently breathing a sigh of relief.”

The Russell 2000’s move into correction territory and the Nasdaq’s four-week losing streak were among the most significant pressures leading into the trading session.