NEW YORK — Relief is flowing through financial markets Monday after President Donald Trump said the United States has talked with Iran about a possible end to their war. Oil prices are easing, and stock prices are jumping on Wall Street following severe losses taken elsewhere in the world before Trump’s announcement. The price for a barrel of Brent crude fell 10.5 percent to $100.46, down from nearly $120 at one point last week, after Trump said the United States and Iran held productive talks the last two days “regarding a complete and total resolution of our hostilities in the Middle East.” The S&P 500 rose 1.3 percent toward its best day since the war began. The market’s moves remain tentative, though, and Iran denied such talks took place. The S&P 500 trimmed its gain, which had reached 2.2 percent in the morning. Over the weekend, Trump had threatened to “obliterate” Iran’s power plants if it doesn’t open up the Strait of Hormuz within 48 hours. The narrow waterway off Iran’s coast has become a sore point for Trump and the economy because its near-closure has preven
Rate rises and war push consumer confidence into death spiral
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