BlockBeats News, March 10th, U.S. President Trump stated that the Iran war is basically over. The progress was “much faster” than the 4 to 5 weeks timeframe he initially anticipated. Influenced by this news, according to Bitget data, the crude oil price plummeted rapidly, falling more than 30% from its recent high point. It is currently at $85.58 per barrel.
The concerns over the Middle East conflict have eased, and the major U.S. stock indices surged strongly in the last hour before the closing bell: Nasdaq led the gains, basically recovering all losses since the Middle East conflict. At Monday’s close, the Dow rose by 0.5%, the S&P 500 rose by 0.8%, and the Nasdaq rose by 1.38%.
Furthermore, Trump stated in a press conference that the U.S. military action against Iran would end “very soon.” Trump also mentioned that he foresaw the rise in oil and gas prices, and the oil price increase was lower than his expectations. The Japanese and South Korean stock markets rebounded at the opening today. The Nikkei 225 Index surpassed 54,000 points, rising by 2.65%; the South Korean KOSPI Index surged by 5.4%, reaching 5535.22 points. Cryptocurrencies saw a general rise, with Bitcoin breaking through $69,000, up by 4.27% in the last 24 hours. Ethereum crossed $2,000, with a 24-hour increase of 3.44%.
