AP
Financial Markets Wall Street
The New York Stock Exchange is seen in New York, Thursday, March 19, 2026.
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Wall Street shot higher and oil futures tumbled after President Donald Trump extended his deadline for Iran to reopen the crucial Strait of Hormuz and said the U.S. would hold off on strikes against Iranian power plants and other energy infrastructure for five days. Trump’s post on social media early Monday came as the war with Iran enters its fourth week. Futures for the S&P 500 and Dow Jones Industrial Average soared 2.6% before the opening bell. Oil prices also immediately reversed course, sinking as much as 10%. Benchmark U.S. crude slid $8.23 to $90 a barrel. Brent crude, the international standard, tumbled $9.02 to $103.17 a barrel.
