Dollar slides, stocks jump as Trump signals pause on Iran strikes
Source: Reuters
March 23, 2026 7:16 AM EDT Updated 7 mins ago
LONDON, March 23 (Reuters) - The dollar plunged and stocks surged on Monday after U.S. President Donald Trump said he had asked the Department of Defence to postpone "any and all" military strikes against Iranian power plants and energy infrastructure for five days.
The dollar had traded higher against most other currencies until the headline hit, sending the euro up over 1% into positive territory to $1.158, from around $1.487 earlier. The dollar index fell 0.3%, having shown a 0.6% rise earlier on .
U.S. stock futures jumped over 2%, while the STOXX 600 (.STOXX), erased daily losses to turn positive. It was last up 0.7%, having been down over 2.2% in early trade.
Read more: https://www.reuters.com/sustainability/sustainable-finance-reporting/global-markets-iran-strike-urgent-2026-03-23/
Just breaking. Pure market manipulation. Oil has dropped over $10/bbl now and down to $88/bbl.
Soon it will be "2 weeks".

bucolic_frolic
(55,018 posts)They should take this clown and lock him up. You can't plan 2 hours ahead but what it reverses. Public nuisance.
twodogsbarking
(18,665 posts)Renew Deal
(85,088 posts)He tried with the winding down statement and it didnt work. So hes trying again while Israel says the opposite.
nitpicked
(1,795 posts)US stocks zoomed up, oil and RBOB tumbled (but at this moment, now a bit of apparent profit-taking)
https://www.cnbc.com/
no_hypocrisy
(54,871 posts)Goad Iran into false complacency and then attack again but more intensely.
IrishAfricanAmerican
(4,456 posts)They're just juicing the markets as much as they can in the meantime.
nitpicked
(1,795 posts)(snip)
13 min ago
Trump says talks ongoing
By JON GAMBRELL
Trump added that the suspension of his threat to attack Iranian power plants was subject to the success of the ongoing meetings and discussions.
Trumps announcement came as the United Arab Emirates reported its air defenses were attempting to intercept new incoming Iranian fire Monday afternoon.
Prior to Trumps announcement, Iranian Foreign Minister Abbas Araghchi acknowledged talking by phone with his Turkish counterpart, Hakan Fidan. Turkey has been an intermediary before in negotiations between Tehran and Washington.
(snip)
22 min ago
breaking news updates
JUST IN: Trump extends his deadline for Iran to reopen Strait of Hormuz, says US to hold off on power plant strikes for 5 days
By THE ASSOCIATED PRESS
(snip)
nitpicked
(1,795 posts)From his schedule:
https://rollcall.com/factbase/trump/topic/calendar/
(snip)
1:00 PM
The President participates in the Memphis Safe Task Force Roundtable [12:00 PM Local]
Tennessee Air National Guard, Memphis Open Press
(snip)
Whip-poor-will
(203 posts)Isn't that special now...... A war crime holiday
His mouth wrote another check his ass can't cash.
Big bluff though always till he's called and Iran sure has his number.
blue-wave
(4,992 posts)I have been following the price of oil daily. It seems every Sunday night, the price starts to creep up. Then, some announcement comes out like the one in this post. The price drops. Give it a few days, it will likely creep higher again.
Bengus81
(10,141 posts)More LIES,more distraction
Ray Bruns
(6,318 posts)Bengus81
(10,141 posts)Manipulation once again................
republianmushroom
(22,289 posts)Iran told him to shove his deadline.
mdbl
(8,636 posts)They probably were told what he was going to do ahead of time.
muriel_volestrangler
(106,132 posts)Link to tweet
* $1.5B notional worth of S&P500 (ES) futures are bought in a single clip.
* $192M notional of oil futures (CL) sold.
More than 4x-6x any other trade size during the market close.
Insiders profited from his lies in broad daylight!
This is from
"Adam Cochran (adamscochran.eth) @adamscochran professor, policy consultant, independent journalist and father. Trying to make the world suck less. Follow for the latest in politics, economics and law."
via Wonkette
mahatmakanejeeves
(69,622 posts)BlueTsunami2018
(4,980 posts)And sets the deadline for after the markets close for the weekend.
Hes absolutely grifting off of this.
LetMyPeopleVote
(179,378 posts)The president celebrated the progress of diplomatic talks with Iran. Whether those negotiations have actually happened is an open question.
Link to tweet
https://www.ms.now/rachel-maddow-show/maddowblog/pointing-to-talks-that-might-not-exist-trumps-iran-rhetoric-becomes-even-more-incoherent
It was a jarring announcement for a variety of reasons. On the one hand, the American president was talking about winding down the war and declaring a military victory, all while expressing relative indifference to the Strait of Hormuz. On the other hand, Trump was also prepared to target civilian energy supplies according to many, a war crime as early as Monday night unless Iran reopened the strait, which remains a waterway the Republican recently described as being in great shape and safe enough for ships to pass through. (The day before issuing the 48-hour deadline, he also told reporters, You know, at a certain point, itll open itself.)
On the other hand, Trump also wasted little time in abandoning his own deadline for the most dubious of reasons. MS NOW reported:
As the Iran war enters its fourth week, President Donald Trump on Monday announced that the United States has engaged in diplomatic talks with Iran and is taking a five-day pause on strikes against Iranian power plants and energy infrastructure.
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, Trump wrote in an all-caps message posted to Truth Social.
As part of the statement, the Republican added that he has directed the Pentagon to postpone any and all military strikes against Iranian power plants and energy infrastructure for a five day period because the talks with Iranian officials have been so constructive......
So when a reporter asked the president on Monday morning which Iranian leader U.S. officials have spoken to, he refused to say. At an event soon after, he struggled to explain when, exactly, these alleged negotiations began. (He also hasnt explained why his administration would talk at all to a country he expects an unconditional surrender from.)
Gerard Baker, a conservative member of The Wall Street Journals editorial board, wrote via social media on Monday morning, The unsettling reality is that with this president, Americans in wartime are in the unprecedented position of having to suspect that the enemys version of events is more likely to be true than our own. We have become Baghdad Bob.
Trumps incoherence on the war was already a problem. As the fourth week of the conflict begins, it appears that problem is getting worse.
LetMyPeopleVote
(179,378 posts)There may be some significant insider trading taking place. trump may have tipped someone who is going to make some significant money on this information.
Link to tweet
https://www.cnbc.com/2026/03/23/volume-in-stock-and-oil-futures-surged-minutes-before-trumps-market-turning-post.html
At around 6:50 a.m. in New York, S&P 500 e-Mini futures trading on the CME recorded a sharp and isolated jump in volume, breaking from an otherwise subdued premarket backdrop. With thin liquidity typical of early trading hours, the sudden burst stood out as one of the largest volume moments of the session up to that point.
A similar pattern was observed in oil markets. West Texas Intermediate May futures also saw a noticeable pickup in trading activity at roughly the same time, with a distinct volume spike interrupting otherwise quiet conditions.
Roughly 15 minutes later, at 7:05 a.m., Trump said on Truth Social that the U.S. and Iran had held talks and that he was halting planned strikes on Iranian power plants and energy infrastructure. That announcement prompted an instant rally in risk assets, with S&P 500 futures soaring more than 2.5% before the opening bell. West Texas Intermediate futures dropped nearly 6% following the announcement......
The timing of the earlier volume spikes across both equities and crude caught the attention of traders, particularly given the absence of an obvious catalyst at the moment they occurred.
Early-morning futures markets are typically less liquid, which can make short bursts of buying and selling more noticeable than during regular trading hours. Still, the trades raised some eyebrows because whoever purchased a large amount of stock futures and sold or shorted crude futures at that moment made a lot of money just minutes later.