Trump’s Iran Pause Sparks Stock Rally, but Wall Street’s TACO Trade May Be Over
President Trump postponed planned strikes on Iranian energy sites for five days after talks with Tehran, triggering a stock rally and sharp drop in oil prices Monday. Brent crude fell as much as 15% to $96 a barrel, while Dow futures rose 1.42%. The Strait of Hormuz remains closed to normal shipping, with global oil supply down by at least 12 million barrels a day, according to Reuters.