Oil slid and stocks jumped on Monday after President Donald Trump said talks with Iran have resumed. The S&P 500 climbed 1.48%, while the tech-heavy Nasdaq Composite overperformed, soaring 2.13%. The Dow Jones Industrial Average gained 1.32%. reaching a new record close.
Tech companies led the session, with Meta gaining almost 6% and Amazon more than 4%, hitting a record $3 trillion market capitalization.
Elsewhere, Brent crude, the international benchmark, fell 4.77% and stood at $83.74 a barrel at 4:16 p.m. ET, while West Texas Intermediate, the U.S. benchmark, dropped over 5% and clocked in at $80.15 a barrel at the same time.
President Donald Trump said ongoing talks with Iran are the last chance for the country's leadership to reach an agreement before "decapitation."
"I think maybe we're going to get something. But i want to give them one last chance before decapitation," Trump said while speaking to press at the Oval Office.
"Hopefully they'll come to their senses," Trump added.
Trump had already criticized Tehran's leadership, accusing them of of being "unbelievably duplicitous" after a top official denied the country had requested talks with the U.S.
In a social media post, Trump claimed that officials are seeking meetings with the country, and there are even "more scheduled in the immediate future," but then "they say, openly and proudly, that they're not having any discussions, that nothing is being talked about, and they're only dealing with 'Oman.'"
He went on to say that officials then "they then go on to give their usual blather in saying, the Strait of Hormuz will be operated powerfully by them, when it is already completely controlled by the United States Navy and our 'Blockade' or, as some say, 'The United States Wall of Steel!'"
"Nothing gets through to Iran, unless we want it to, and nothing will get through, unless a Deal, or Total Surrender, is accomplished. Whether Iran wants to admit it or not, we are, in fact, talking of a solution to a problem that they have caused, for decades. It is very simple, IRAN WILL NEVER HAVE A NUCLEAR WEAPON!" Trump added.
The publication comes hours after Iranian foreign ministry spokesperson Esmail Baghaei rejected there are ongoing talks, saying the country had only discussed navigation through the Strait of Hormuz with Oman.
