A wild 24 hours continued in all markets after President Trump said the war against Iran could soon be over.
The action against Iran is “very far ahead” of what was expected to be a four-to-five-week timeframe, Trump said in late afternoon comments. He is expected to provide updates on the situation at 5:30 PM ET.
Already in the midst of a sharp reversal higher after a plunge on Sunday night, when oil rose as much as 30%, crypto and equity markets extended gains following the comments.
Just before the close, the Nasdaq was ahead 1.25% and the S&P 500 0.8%. Bitcoin at just over $69,000, up 2.4% over the past 24 hours.
Meanwhile, the oil spilled even more. After rising as much as 30% to $120 per barrel on Sunday evening, WTI crude fell all the way back to $85, now down 6% on the day.
Crypto-related stocks added to Monday’s gains, with Circle ( CRCL ) up 10%, while Strategi ( MSTR ) and Coinbase ( COIN ) were 5% and 2% higher, respectively.
