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HomeMarket NewsDonald Trump moves the market yet again — Here's what he said and how asset classes reacted
Brent crude futures for the May contracts is down 7.7% but is holding on to levels of $100 a barrel, while those expiring in June have tanked 6.5% and are trading just around the mark of $100 a barrel as well.
US President Donald Trump has announced that negotiations with Iran, held over the last two sessions, have resulted in him instructing the Department of War to postpone all military strikes against Iranian power plants and energy infrastructure over a five-day period.
Trump's post on Truth Social has sparked a sharp reversal among risk-on assets and a sharp drop in crude oil prices, which had surged to multi-year highs. Here's how various asset classes have reacted after the post by Trump:
US Futures
Dow Futures, which were down as much as 400 points on Monday before market open, surged as much as 1,150 points, before paring some gains to trade 800 points higher.
The S&P 500 and Nasdaq futures, which were also down over 1% a few minutes ago, have reversed course, and are trading with gains of 130 points and 450 points respectively.
Crude Oil Prices
Oil prices, which witnessed the biggest surge since the hostilities began in West Asia at the start of the month, have seen a sharp reversal from the highs.
Brent crude futures for the May contracts is down 7.7% but is holding on to levels of $100 a barrel, while those expiring in June have tanked 6.5% and are trading just around the mark of $100 a barrel as well.
West Texas Intermediate (WTI) or the US crude variant, has also reversed course for the June futures, which are now trading 7.5% lower at $88 a barrel.
