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Oil prices dropped Monday and stock futures soared after President Trump said the U.S. will postpone further strikes on Iranian energy infrastructure for five days, citing productive talks between the two countries.
Brent crude futures fell more than 10%, dipping below $100 a barrel for the first time in days.
U.S. stock futures jumped, with contracts tied to the Dow industrials and the S&P 500 advancing 2.5%—reversing declines from earlier in the morning, when the prospect of further escalation hung over markets. The 10-year U.S. Treasury yield, which had earlier jumped above 4.4%, retreated sharply on the news of the talks.
Brent crude futures fell more than 10%, dipping below $100 a barrel for the first time in days.
U.S. stock futures jumped, with contracts tied to the Dow industrials and the S&P 500 advancing 2.5%—reversing declines from earlier in the morning, when the prospect of further escalation hung over markets. The 10-year U.S. Treasury yield, which had earlier jumped above 4.4%, retreated sharply on the news of the talks.