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Fortune

Eva Roytburg

Stocks stage massive upside reversal as oil plunges after Trump says Iran war could be over soon

Donald Trump Iran Oil Weijia Jiang CBS News

(Credit: Michael Nagle—Bloomberg/Getty Images)

Oil prices plunged on Monday afternoon and equities went back into the green after President Trump suggested to CBS News reporter Weijia Jiang in a phone interview that the war may be winding down.

“NEW—In a phone interview, President Trump told me the war could be over soon: ‘I think the war is very complete, pretty much. They have no navy, no communications, they’ve got no Air Force.’ He added that the U.S. is ‘very far’ ahead of his initial 4-5 week estimated time frame,” she posted on X.

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