Trump Signals Potential End to Iran Conflict; Global Markets Rebound as Oil Prices Plunge
10 March 2026
Today in Brief
Global markets saw a significant turnaround as President Trump suggested the war with Iran may be nearing its conclusion. Oil prices saw a sharp retreat below $90, while tech stocks in Asia and the U.S. rallied on renewed geopolitical optimism and advancements in AI.
Asia Markets
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Asia markets rebound as oil plunges after Trump signals Iran war might end ‘soon’
South Korea’s Kospi opened more than 5% higher Tuesday, leading a rebound in the region, after oil prices fell and Wall Street bounced back as U.S. President Donald Trump signaled the conflict with Iran could be nearing its end. Oil prices fell over 10% after Trump said he was considering seizing control of the Strait of Hormuz, the most important chokepoint in world for the crude market. Trump also told a CBS News reporter, who shared the comments in a post on X, that “the war is very complete, pretty much.” International Brent crude was down 10% at $89.03 per barrel at 9.10 p.m. ET Monday. U.S. crude oil fell more than 9% to $86.05 per barrel. The declines came after oil surged past $100 on Monday.
U.S. Markets
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Dow closes wild session up 200 points as oil reverses lower and Trump signals Iran war near an end
The S&P 500 made a comeback from earlier losses on Monday after President Donald Trump said the war against Iran could be reaching its end. The broad market index rose 0.83% to close at 6,795.99, while the Dow Jones Industrial Average added 239.25 points, or 0.5%, and ended at 47,740.80. The blue-chip index is coming off its biggest weekly slide in nearly a year. The Nasdaq Composite jumped 1.38% and settled at 22,695.95. Those moves mark an impressive turnaround from the losses seen earlier in the day. The Dow was down nearly 900 points at its session low, and the S&P 500 and Nasdaq fell as much as 1.5% each. On Monday, Trump told a CBS News reporter, who shared the comments in a post on X, that “the war is very complete, pretty much.”
Commodities
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Gold prices rose to around $5,170 per ounce on Tuesday, recouping losses from the previous session
Gold prices rose to around $5,170 per ounce on Tuesday, recouping losses from the previous session, as the US dollar weakened after President Trump suggested the conflict in the Middle East may end soon. Trump on Monday sought to reassure markets amid ongoing military tensions with Iran, describing the operation as a “little excursion." In response, Iran stated that it will decide when the conflict concludes. Earlier concerns that a prolonged conflict in the region could trigger a spike in inflation had prompted traders to scale back expectations for Federal Reserve interest rate cuts this year. Markets now imply roughly 40 bps of easing by year-end, down from over 55 bps in late February. Investors now await key US inflation data, including the CPI and PCE, due later this week, for fresh cues on the Fed's policy outlook.
Energy
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WTI crude futures fell below $90 per barrel on Tuesday after surging to nearly $120
WTI crude futures fell below $90 per barrel on Tuesday after surging to nearly $120 in the previous session, as US President Donald Trump signaled that the war with Iran may be nearing its end and that the US military operation is progressing well ahead of its initial timetable. Trump also said he plans to waive oil-related sanctions and have the US Navy escort tankers through the Strait of Hormuz in an effort to keep oil prices in check. Adding to the downward pressure, G7 finance ministers said the group “stands ready” to release oil from strategic reserves, if necessary, although no action has been taken so far. Oil prices had surged on Monday after major Middle Eastern producers began cutting output following disruptions in the Strait of Hormuz.
Economy
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China exports sharply beat expectations as trade surplus in the first two months surges to highest on record
China’s trade surplus rose to its highest on record in the combined January-February period, while exports massively beat expectations, underscoring the resilience of the world’s second-largest economy despite trade tensions with the U.S. China typically combines January and February trade data to smooth distortions from the shifting Lunar New Year holiday. The trade balance surged to $213.62 billion, compared with expectations of $179.6 billion. Exports from China rose 21.8% year on year in the combined January-February period, beating the 7.1% growth expected by economists polled by Reuters. Imports rose 19.8% in the first two months from a year earlier, against expectations of a 6.3% growth, customs data showed Wednesday.
Geopolitics
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U.S. orders staff to leave Saudi Arabia as war spreads; Iran rules out immediate ceasefire
The U.S. government on Monday ordered non-emergency government employees to leave Saudi Arabia as the war engulfing Iran widened across the Middle East. Iran also ruled out an immediate ceasefire while attacks continued. The U.S. embassy in Riyadh cited heightened risks from armed conflict, terrorism and missile and drone attacks from Yemen and Iran. That marked the first such departure order issued by Washington in Saudi Arabia since the war began. The Israeli military said Monday that it had begun a new wave of strikes targeting the infrastructure of the “terror regime” in central Iran. An Iranian foreign ministry spokesman claimed Monday that the U.S. was “after Iranian oil reserves” and aimed to weaken and divide Iran, according to comments translated by Reuters.
Shipping
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Oil tankers transiting Strait of Hormuz ‘must be very careful,’ Iran Foreign Ministry warns
Oil tankers passing through the Strait of Hormuz “must be very careful,” the spokesman for Iran’s Ministry of Foreign Affairs warned on Monday. The spokesman, Esmail Baghaei, also defended Iran’s attacks on Gulf states, telling CNBC’s Dan Murphy that targeting “military bases and assets” belonging to the United States in the region is “legitimate under international law.” The price of crude oil has sharply spiked past $100 a barrel as the Strait of Hormuz has been effectively closed. “As long as the situation is insecure, I think all tankers, all maritime navigation, must be very careful,” said Baghaei, who is also head of the Center for Public Diplomacy. He said that Iran will fight against the U.S. and Israel “as long as it takes,” and that his nation is preparing for every possible scenario, including a potential ground invasion.
Global Conflict
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Trump hints Middle East conflict might end soon
Oil prices declined in extended trading Monday after U.S. President Donald Trump said in a phone conversation with CBS News that he was considering seizing control of the Strait of Hormuz. He added that “the war is very complete, pretty much,” after which U.S. key indexes rebounded from earlier losses. U.S. stock futures slipped Monday night as traders assess Trump’s comments — who also said in a press conference on Monday that the war will end “very soon” — and as they monitor the latest developments out of Iran. The oil shock on Monday spurred South Korea to impose a price cap on fuel products for the first time in 30 years. President Lee Jae Myung said the government will explore ways to diversify its energy import sources, according to a TV broadcast, as gasoline prices in the country surge.
AI Industry
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Tencent, China AI stocks surge on optimism over AI agents
Tencent and other major Chinese artificial intelligence stocks rose sharply on Tuesday amid increasing optimism over their forays into agentic AI similar to the wildly popular OpenClaw program. Tencent Holdings Ltd (HK:0700) jumped over 6% to a near one-month high of HK$548.0, and was also among the top boosts to the Hang Seng index, which added 1.6%. The internet giant launched a new AI agent product, WorkBuddy, this week, with the program having capabilities similar to those of OpenClaw. WorkBuddy runs locally on user computers and is able to carry out several tasks independently. Global tech companies have been racing to capitalize on the success of OpenClaw, which sparked renewed interest in agentic AI, especially programs that could run independently on user machines.
Technology
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Nvidia planning to launch open-source AI agent platform
Nvidia is planning to launch an open-source platform for artificial intelligence agents, tech publication Wired reported on Monday, citing people familiar with the plans. The chipmaker was seen pitching the product– referred to as NemoClaw– to enterprise software companies, the report said. The platform is aimed at allowing companies to dispatch AI agents to perform tasks for their own employees. The move comes ahead of Nvidia’s annual developer conference in San Jose next week. The company reached out to several software majors, including Salesforce, Cisco, Google, Adobe, and CrowdStrike, for potential partnerships over the program, the Wired report said. Nvidia’s plans come amid increasing interest in open-source AI agents after the viral success of OpenClaw. The program is an open-source AI tool that runs locally on a user’s machine and is able to perform several tasks.
Corporate
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Trump bought Netflix and Warner Bros bonds at height of bidding war with Paramount
U.S. President Donald Trump bought more than $1.1 million of Netflix bonds over the last three months as the streaming giant unsuccessfully fought Paramount Skydance to buy Warner Bros Discovery, according to government disclosures. Trump bought more than $500,000 of Netflix’s bonds in two transactions on December 12 and December 16 and another more than $600,000 across two more trades on January 2 and 20, the disclosures show. The White House disclosed a range, rather than exact amounts, of between just over $1.1 million and $2.25 million. The purchases came as the Republican president and his regulatory officials talked Netflix down in the press, calling into question whether the deal would withstand antitrust scrutiny.
Renewables
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US solar installations down in 2025 after Trump policies jolt market, report says
The U.S. solar market added fewer new installations in 2025 compared to the year before, a study showed on Tuesday, pointing to cooling momentum across the sector after President Donald Trump scrapped subsidies and tax breaks for renewable energy developers. The solar market installed 43 gigawatts in new capacity last year, compared to nearly 50 GW in 2024, according to a study by the Solar Energy Industries Association (SEIA). The administration’s One Big Beautiful Bill Act has led to an industry-wide disruption, with utility-scale solar installations declining 16% and community solar declining 25% in 2025, the report said. The solar industry is contending with tariff pressures and a freeze on approvals for major projects under the current administration, reflecting an energy agenda focused on oil, gas, coal and nuclear and marking a shift from Joe Biden’s green policies.
