Stocks Climb, Oil Falls on Hopes War Is Near End: Markets Wrap

WATCH: Jerome Powell said there’s tension between the Fed’s two main objectives.Source: Bloomberg

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By Rita Nazareth

March 30, 2026 at 10:25 PM UTC

Updated on

March 31, 2026 at 8:03 PM UTC

Wall Street staged a dramatic comeback at the end of March, with stocks climbing as oil fell on hopes that the war that has jolted global markets and disrupted energy supplies may be nearing a conclusion.

Equities saw their biggest rally since May on speculation that both the US and Iran might be looking for a way out of the conflict. The S&P 500 gained 2.9% and the Nasdaq Composite added 3.8%. Airlines jumped while energy producers slipped. US crude closed near $101. Its retreat from multiyear highs extended an advance in Treasuries. The dollar dropped and gold rose.