Iran war cools, oil dips, markets rebound

Trump's comments on Monday led to a significant drop in oil prices, which had spiked due to fears of prolonged disruption from the conflict. Brent crude, the international benchmark, had reached nearly $120 a barrel before Trump's statement that the war could end soon. The Dow Jones Industrial Average initially dipped but recovered, closing down just 34 points at 47,706.51. The Nasdaq Composite also saw a slight gain, adding 1.16 points to close at 22,697.10. Global markets reacted positively to the news, with significant gains in Asia and Europe. South Korea's index jumped 5.3%, Hong Kong's rose 2.2%, and France's increased by 1.8%. Despite the rebound, some analysts caution that volatility will likely continue until a longer-term resolution is found. Concerns remain about elevated fuel costs and supply uncertainties.