Trump hints that "the war is about to end," causing U.S. stocks to reverse.

Tuesday, March 10, - Japanese and South Korean stock markets rebound. The Nikkei 225 opened up 895.58 points, a 1.70% increase, at 53,624.30 points; South Korea’s KOSPI opened up 283.35 points, a 5.4% increase, at 5,535.22 points.

On March 9, local time, U.S. stocks opened with some weakness but quickly turned positive, with all three major indices rallying in a V-shaped rebound. By the close, the Dow rose 0.5%, the S&P 500 increased 0.83%, and the Nasdaq gained 1.38%.

The sudden boost in market sentiment was driven by two key signals. On March 9, U.S. President Trump hinted in an interview that the conflict with Iran might end soon. Additionally, during a press conference, Trump stated that due to market turmoil caused by U.S. and Israeli attacks on Iran, he would cancel some oil-related sanctions to stabilize oil prices.

Following the news, international oil prices plummeted. U.S. crude oil futures fell as much as 9%, dropping below $82 per barrel; Brent crude futures also fell 8%, dropping below $84 per barrel.

U.S. stocks close higher across the board; international oil prices plunge

By the close on March 9, U.S. major indices all finished higher: the Dow up 0.5% at 47,740.8 points; the S&P 500 up 0.83% at 6,795.99 points; the Nasdaq up 1.38% at 22,695.95 points.

Large tech stocks all rose. Nvidia gained over 2%, Google increased more than 2%, Apple rose nearly 1%, Tesla up 0.49%, Meta up 0.39%, Amazon up 0.13%, and Microsoft up 0.11%.

On the news front, Apple is set to release its first foldable iPhone, the iPhone Fold, in the second half of the year. Supply chain sources say Apple is very confident in the new device’s sales, significantly increasing supply chain stockpiles—20% above original targets—marking a rare large-scale increase in Apple’s recent product launches. Meanwhile, due to delays in developing the new Siri, Apple has postponed the launch of its smart home display until later this year.

According to Korea Economic Daily, Nvidia plans to launch its next-generation AI accelerator, Vera Rubin, in the second half of this year. The product will feature Samsung Electronics and SK Hynix’s sixth-generation high-bandwidth memory HBM4, while the third-largest global memory manufacturer, Micron, has been excluded from the HBM4 supply chain for Vera Rubin.

Chinese concept stocks generally rose, with the Nasdaq Golden Dragon China Index up 1.76%. Among popular Chinese stocks, Kingsoft Cloud surged over 19%, Brain Rebirth gained more than 10%, Bilibili and Xpeng Motors rose over 6%, Canadian Solar increased over 4%, and Shengmei Semiconductor rose more than 3%. Decliners included iQIYI, which fell nearly 7%, and Zai Lab, Sorrento Therapeutics, and Luokong, each down over 2%.

International oil prices experienced a sharp decline from high levels. During trading, U.S. crude futures fell as much as 9%, dropping below $82 per barrel; Brent crude futures also fell 8%, below $84 per barrel. By the close, U.S. crude futures declined 6.4% to $85.08 per barrel, and Brent crude futures fell 3.13% to $89.79 per barrel.

Trump hints that U.S. conflict with Iran may end soon

According to Xinhua News Agency, on the afternoon of March 9, U.S. President Trump hinted in a phone interview with CBS that the conflict with Iran might end soon.

Trump said he believes the conflict with Iran has been “very thorough” and claimed Iran now “has no navy, no communication facilities, no air force, missiles are almost gone, drones have been destroyed, including their drone manufacturing plants.” From a military perspective, “they have nothing left.”

After Trump’s comments were broadcast, the three major U.S. stock indices rose in response.

Regarding Iran’s new Supreme Leader, Muqtada al-Sadr, Trump said, “There’s nothing to say to him,” and claimed he already has a “suitable person” in mind to lead Iran.

Trump also mentioned that ships are currently passing through the Strait of Hormuz but he is still considering “controlling” this vital waterway.

According to Xinhua, Trump stated at a press conference that due to market turmoil caused by U.S. and Israeli attacks on Iran, he would cancel some oil-related sanctions to stabilize oil prices.

Trump also said the conflict with Iran will “end very soon,” but “not” within this week.

G7 does not activate strategic petroleum reserves for now

According to Xinhua, G7 finance ministers held a video conference on March 9 to discuss the possible joint release of strategic petroleum reserves if necessary, to ease the surge in crude oil prices caused by Middle East conflicts. French Finance Minister Bruno Le Maire said the participants believe there is currently no supply shortage and that “it’s not yet time to take action.”

French media reports suggest that G7 leaders may make a final decision later this week on whether to activate strategic petroleum reserves.