Trump’s Wild, 5-Minute Rally Sends Clear Message to Wall Street
A trader watches as a television station broadcasts US President Trump on the floor of the New York Stock Exchange on March 2.
Photographer: Michael Nagle/BloombergJust moments after Donald Trump backed down from his threat to bomb Iran’s energy infrastructure in a Truth Social post at 7:05 a.m., oil prices plunged over 13%, Treasury yields tumbled and traders signaled that US stocks would surge at the opening bell.
It almost didn’t matter that less than an hour later Iran contradicted Trump’s claim that negotiations were underway. On Wall Street, the message was clear: Trump, at least, is eager to end a war that has sent the global economy careening toward a crisis since he started it a little over three weeks ago.