A wild 24 hours continued across markets after President Trump said the war with Iran could end soon.
Action against Iran is “well ahead” of what was expected to be a four- to five-week timeline, Trump said in late afternoon comments. He is expected to provide updates on the situation at 5:30 p.m. ET.
Already in the midst of a sharp upward reversal after falling on Sunday night as oil soared as much as 30%, cryptocurrency and stock markets extended gains following the comments.
Just before the close, the Nasdaq gained 1.25% and the S&P 500 gained 0.8%. bitcoin at just over $69,000, it was up 2.4% in the last 24 hours.
Meanwhile, oil fell further. After rising as much as 30% to $120 a barrel on Sunday night, WTI crude oil plummeted to $85, now down 6% on the day.
Cryptocurrency-related stocks added to Monday’s gains, with Circle (CRCL) rising 10%, while Strategy (MSTR) and Coinbase (COIN) rose 5% and 2%, respectively.
