Trump Signals Iran War May End Sooner Than Expected

Equities rise after president says Tehran's military has been heavily degraded

Published on Mar. 9, 2026

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President Donald Trump told CBS News in a phone interview that the U.S. campaign against Iran could be nearing its endpoint, saying Tehran's military capacity has been heavily degraded. U.S. equities ultimately finished the session higher after a volatile trading day, with the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite entering positive territory by the closing bell.

Why it matters

Trump's comments suggest the conflict with Iran may be winding down sooner than initially projected, which could have significant implications for global oil supply and prices, as well as the broader geopolitical landscape.

The details

Trump said the U.S. military has hit more than 3,000 Iranian targets during the first week of operations, leaving Iran's forces severely diminished. He also warned Iran over any attempt to disrupt traffic through the Strait of Hormuz, a key route for global crude shipments. Meanwhile, the Department of Defense posted on social media, "We have Only Just Begun to Fight" and "no mercy," the same day Trump described the war as close to finished.

  • On Monday, President Donald Trump spoke with CBS News from his golf club in Doral, Florida.
  • Late Sunday, Iran announced Ayatollah Mojtaba Khamenei would succeed his father as the country's supreme leader.

The players

Donald Trump

The President of the United States who spoke with CBS News about the status of the conflict with Iran.

Ayatollah Mojtaba Khamenei

The newly announced successor to Iran's supreme leader.

U.S. Department of Defense

The U.S. government agency that posted messages on social media about the conflict with Iran.

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What they’re saying

“I think the war is very complete, pretty much. They've shot everything they have to shoot, and they better not try anything cute or it's going to be the end of that country.”

— Donald Trump, President of the United States (CBS News)

“We have Only Just Begun to Fight”

— U.S. Department of Defense (X)

“no mercy”

— U.S. Department of Defense (X)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

Trump's comments suggest the conflict with Iran may be winding down sooner than expected, which could have significant implications for global oil supply and prices, as well as the broader geopolitical landscape. However, the mixed messaging from the U.S. government raises questions about the true status of the conflict.