A wild 24 hours continued in all markets after President Trump said the war against Iran could be over soon.
The action against Iran is “very far ahead” of what was expected to be a four-to-five-week time frame, said Trump in late-afternoon comments. He is expected to give updates on the situation at 5:30 pm ET.
Already in the midst of a sharp reversal higher after plunging Sunday evening as oil soared as much as 30%, crypto and equity markets added to gains following the comments.
Just ahead of the close, the Nasdaq was ahead 1.25% and S&P 500 0.8%. Bitcoin at just above $69,000 was up 2.4% over the past 24 hours.
Oil, meanwhile, tumbled even further. After rising as much as 30% to $120 per barrel on Sunday evening, WTI crude plunged all the way back to $85, now lower by 6% for the day.
Crypto-related stocks added to Monday’s gains, with Circle (CRCL) up 10% while Strategy (MSTR) and Coinbase (COIN) were 5% and 2% higher, respectively.