Stock futures rallied after President Donald Trump said the U.S. and Iran had held talks and that he was halting strikes on Iranian power plants and energy infrastructure, giving investors hope that the Middle East conflict that spiked oil prices and raised fears of a global recession was nearing an end. Dow Jones Industrial Average futures jumped 1,000 points, or 2.2%. S&P 500 futures rose 1.9%, as did Nasdaq-100 futures. Before Trump’s comments, futures were pointing to more losses for equity markets under siege from skyrocketing oil prices and uncertainty about the duration of the Iran conflict. “I am pleased to report that the United States of America, and the country of Iran, have had, over the last two days, very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East,” wrote Trump in a Truth Social post. “Based on the tenor and tone of these in depth, detailed, and constructive conversations, which will continue throughout the week, I have instructed the Department of War to postpone any and all military strikes against Iranian power plants and energy infrastructure for a five day period, subject to the success of the ongoing meetings and discussions,” the president added. Stock futures were off their highest levels of the session after Iranian state media said there were no direct talks between the U.S. and Iran. Trump’s announcement came as the Iran war entered its fifth week, with tensions escalating over the weekend on an ultimatum from the president. Trump had threatened an attack on Iranian power plants in 48 hours if the Strait of Hormuz — a key shipping route for oil and other energy products — wasn’t reopened. Iran in turn said it would target U.S. infrastructure, including energy and desalination facilities ​in the Gulf, if the U.S. carried out its threat. “Equity markets finally found an off-ramp to the dramatic uncertainty and significantly oversold conditions due to the Iranian conflict,” wrote Jeff Kilburg, founder and CEO of KKM Financial and manager of the Essential 40 Stock ETF (ESN). “If this proves to be a foundation for peace in the Middle East, equities could get back to all-time highs.” Before Monday’s rebound, the Dow and Nasdaq Composite were each threatening to fall into correction territory — a 10% pullback — with both down around 9.8% from their record levels through Friday. The S&P 500 was off by 7% from its high before Monday’s turnaround. It was a broad rebound in early trading, with cyclical shares like banks and industrials surging as well as technology shares. JPMorgan Chase and Morgan Stanley were each 2% higher in premarket trading. Caterpillar and Deere added 2% apiece. Nvidia and Apple were also both 2% higher. Airline stocks such as Delta Air Lines and United Airlines were each up more than 4% as the price of oil slid. Energy stocks were among the few shares in the red, with Exxon Mobil and Chevron lower. The Dow and Nasdaq fell around 2% each last week, while the S&P 500 lost 1.5% as the Iran conflict continued to drag down markets. For the Dow, it was the first four-week losing streak since 2023. “The market has been desperate for any good news, and this appears to be, at least on the surface, the best news we can expect,” said Art Hogan, chief market strategist at B. Riley Wealth Management. “If we were able to see any downward pressure on energy prices, the market is like a coiled spring looking for a reason to move higher.” The 10-year Treasury note yield fell on Monday after President Donald Trump said further military strikes against Iran had been postponed after “productive” negotiations between the warring sides. The benchmark yield was down more than 3 basis points at 4.356%. Earlier in the session, the benchmark security hit its highest level since July 2025 as traders had feared the Federal Reserve wouldn’t be lowering interest rates this year and actually could hike as their next move. It then fell sharply, but then turned back to flat before moving lower once again as traders processed the news. The yield on the policy-sensitive 2-year note fell more than 3 basis points to 3.856%. The 30-year bond yield was also off more than 3 basis points at 4.923%. Asia-Pacific markets sold off sharply on Monday, with major indexes in Japan and South Korea falling as much as 5%, as investors fled risk assets amid escalating conflict in the Middle East that has entered its fourth week. Japan’s Nikkei 225 declined 3.5% to close the session at 51,515.49, paring losses from the earlier session, while the broad-based Topix dropped 3.4% to 3,486.44. South Korea’s blue-chip Kospi plunged 6.5% to 5,405.75, and the small-cap Kosdaq fell 5.6% to finish the session at 1,096.89. The sharp sell-off prompted the Korean exchange to briefly suspend trading earlier in the day. Australia’s S&P/ASX 200 shed 0.74% to 8,365.9. Hong Kong’s Hang Seng Index and the mainland CSI 300 dropped 3.5% and 3.3% to 24,382.47 and 4,418, respectively. Oil prices tumbled Monday after President Donald Trump said the U.S. and Iran had productive talks, leading him to order a halt on strikes against key energy infrastructure in the country. Brent crude fell more than 6% to $105.09 per barrel after topping $112 on Friday. West Texas Intermediate futures dropped nearly 6% to $92.29 per barrel. Gold, silver and platinum resumed their recent sell-off on Monday, but recovered strongly from initial sharp losses as fresh hopes of a de-escalation of the Iranian conflict buoyed investors. The price of spot gold had fallen more than 5% on Monday morning, at $4,262.50, before recovering to trade at $4,412 at 11:40 a.m. in London (7:40 a.m. ET). The whipsawing followed an announcement by President Donald Trump that the U.S. would postpone its strikes on Iranian energy infrastructure after “good and productive” talks between the two nations. Gold futures were last seen around 4% lower, at $4,392, having earlier dipped almost 10%. The precious yellow metal lost almost 10% last week in its worst showing since September 2011. Spot gold has now lost around 25% since hitting a record high of $5,594.92/oz at the end of January. Spot silver, meanwhile, was down 5.9% at $63.76, a year-to-date low and almost half of its $117 level on Feb. 28, when the Iran war began. While heavy selling seen earlier in the day eased slightly, silver futures were still trading 8.3% lower on Monday at $63.98.