Dow closes wild session up 200 points as oil reverses lower and Trump signals Iran war near an end: Live updates. Trump was right it was their skitters, the created the increase
Traders work at the New York Stock Exchange on March 9, 2026.
NYSE
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.”
“They have no navy, no communications, they’ve got no Air Force,” the president said, adding that the U.S. is “very far” ahead of his initially stated timeframe for the war of four to five weeks.
Trump also said that ships are moving through the key Strait of Hormuz passageway and that he is “thinking about taking it over.”
West Texas Intermediate crude fell to as low as $81 a barrel following the developments. It broke above $100 per barrel in overnight trading to hit more than $119, its first time above this threshold since 2022, when investors were reacting to the aftermath of Russia’s invasion of Ukraine. International benchmark Brent crude pulled back to nearly $84 a barrel at its lowest for the day. U.S. oil prices began the year below $60 a barrel.
“It seems like things are moving on the up and up,” said John Luke Tyner, portfolio manager and head of fixed income at Aptus Capital Advisors.
The broader market was also helped by a rise in semiconductor stocks. Broadcom advanced more than 4%, while Micron Technology and Advanced Micro Devices increased 5% each. Nvidia climbed more than 2%.
Oil prices jumped after major Middle East producers slashed their output due to the closure of the Strait of Hormuz. Kuwait announced cuts but did not say by how much, while Iraq has reportedly seen its production fall 70%.
Energy ministers from the Group of Seven nations — namely, Canada, France, Germany, Italy, Japan, the United Kingdom and the U.S. — are planning to meet virtually on Tuesday morning to discuss potentially releasing oil reserves. The group’s finance ministers met on Monday to discuss a release, though they did not make a decision.
The $100 oil level was seen by many on Wall Street as a breaking point for the economy unless the war is resolved quickly and prices retreat. Trump posted Sunday evening that a gain in “short term oil prices” was a “very small price to pay” for destroying Iran’s nuclear threat.
When talking about the recent spikes in oil prices, Tyner said, “I don’t think this little blip was bad enough or long enough to really upset the apple cart as far as growth and earnings go.”
“I would imagine that unless a lot of infrastructure is screwed up that oil gets right back and normalizes somewhere between $65 and $75 [a barrel], which is kind of happy medium for everyone,” Tyner continued.
https://www.cnbc.com/2026/03/08/stock-market-today-live-updates.html