U.S. Stocks Hit Record Highs as Trump Pauses Iran Strikes

The Dow Jones Industrial Average reached an all-time high on Monday as U.S. stocks rallied following a significant drop in oil prices. Brent crude fell 4.7% to $83.77 after Donald Trump announced he would hold off on new strikes against Iran at the urging of regional allies. The easing of geopolitical tensions reduced inflation worries, leading the S&P 500 to rise 1.5% and the Nasdaq to leap 2.1%, with Amazon reaching a $3 trillion valuation.

Trump described ongoing negotiations and warned that Iran faces "a last chance before decapitation." However, the Iranian government denied negotiating with the United States. Foreign ministry spokesman Esmaeil Baqaei clarified that their current talks are with Oman to secure passage through the Strait of Hormuz.

In separate financial developments, authorities from the United States and Japan intervened in currency markets to support the yen, which had fallen to historic lows.