Stocks rose and oil prices fell sharply after President Donald Trump on Monday said the United States would postpone further strikes on Iran’s energy infrastructure, pending the outcome of negotiations.
The Dow was up 676 points, or 1.5% by early afternoon. The S&P 500 was 1.2% higher and the Nasdaq gained 1.3%. The three stock indexes pared some gains after rising more than 2% earlier.
Still, the move higher halted a recent slide. The Nasdaq had closed on the verge of correction Friday — a decline of 10% from a recent peak.
Oil prices dropped: Brent crude was down 10% to $100.84 per