Dow Surges 600 Points on Trump's Claim of Iran Talks

Major indexes jump over 2% on hopes of potential diplomatic resolution to U.S.-Israeli conflict with Iran

Mar. 24, 2026 at 3:55pm

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The Dow Jones Industrial Average closed up more than 600 points on Monday after President Donald Trump claimed "productive conversations" had been held between the United States and Iran. The major stock indexes soared in early trading but gave up some gains as headlines about the ongoing U.S.-Israeli war with Iran caused price fluctuations. The peace talks, which Iranian officials denied, sent oil prices plunging on hopes that negotiations could reopen the Strait of Hormuz and end the global energy crisis.

Why it matters

The sharp rise in the stock market reflects investor optimism that a diplomatic solution to the U.S.-Israeli conflict with Iran could be reached, potentially easing the global energy crisis and economic fallout from the prolonged military tensions.

The details

The Dow closed up 631 points or 1.3%, while the S&P 500 jumped 1.1% and the Nasdaq increased 1.3%. However, all three indexes remained below pre-war levels. Global oil prices plunged more than 10% on Monday after Trump's claim about ongoing negotiations, though oil still stood above $100 a barrel. Trump said talks will continue and there are "major points of agreement," but Iranian officials denied any such negotiations have taken place.

  • On Feb. 28, the U.S.-Israeli war with Iran began.
  • On Monday, March 24, 2026, Trump claimed "productive conversations" had been held with Iran.

The players

Donald Trump

The President of the United States who claimed productive talks had been held with Iran.

Mohammad Qalibaf

The Speaker of the Iranian Parliament who denied that any talks with the U.S. have taken place.

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What they’re saying

“no talks with the U.S. have taken place; reports claiming otherwise are fake news aimed at influencing financial and oil markets and distracting from the challenges facing the U.S. and Israel.”

— Mohammad Qalibaf, Speaker of the Iranian Parliament

“talks will continue and that there are "major points of agreement.”

— Donald Trump

What’s next

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The takeaway

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