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US Market Open| Dow Jones rallies 700 pts after Trump pauses Iran action; Brent breaches $100/barrelDonald Trump delays Iran strikes, easing tensions. Oil prices plunge, Dow Jones, S and P 500 and Nasdaq rise, gold slips, US 10 year Treasury yield retreats.By Bhupendra Paintola  March 23, 2026, 7:51:07 PM IST (Updated)2 Min ReadMarkets caught a breather after US President Donald Trump dialled down immediate escalation with Iran, pushing crude lower and equities higher.

Oil prices slipped sharply after Trump said the US would postpone strikes on Iranian energy infrastructure by five days, citing “productive talks” aimed at a “complete and total resolution” of hostilities. However, Iran’s Foreign Ministry denied any such engagement, stating there has been “no dialogue” with the US.

The mixed signals were enough to ease near-term fears. All three major US indices opened higher, reversing early losses seen in futures trading on Monday.

The Dow Jones Industrial Average rose 1.6%, or over 700 points, off its intraday high of a 1,000-point gain, while the S&P 500 and Nasdaq Composite climbed about 1.3% and 1.4%, respectively.

Crude saw the sharpest reaction. At 19:30 IST, WTI crude at $88.78 (-9.62%), Brent crude at $100.5 (-10.38%), Murban crude at $137.9 (-5.79%) and natural gas at $2.935 (-5.17%)

The decline follows a volatile weekend, when Trump had warned of “obliterating” Iran’s power infrastructure if Tehran failed to reopen the Strait of Hormuz by Monday evening.

Safe-haven assets also reflected the shift in sentiment. Gold recovered slightly after the deadline extension, but Gold COMEX still traded more than 2% lower at $4,478.8 per ounce at 19:30 IST, extending last week’s losses amid concerns that prolonged conflict could stoke inflation and keep interest rates elevated.

Meanwhile, the US 10-year Treasury yield, which had climbed above 4.4% earlier, retreated as easing tensions improved risk appetite.

Also read: Closing Bell | Stock market crash wipes out ₹15 lakh crore; volatility hits 2-year high

This comes on the sidelines of the Indian market, witnessing a bloodbath today with a sell-off wiping nearly ₹15 lakh crore in investor wealth in a single session, taking total erosion since the onset of the conflict to about ₹50 lakh crore.

BSE Sensex plunged 1,837 points to end at 72,696, while the broader 50-share NSE Nifty50 dropped 602 points to close at 22,513. However, Gift Nifty surged as much as 700 points after Trump delayed Iran strikes.

: Gift Nifty surges 700 points as Trump delays Iran strikesContinue ReadingFirst Published: Mar 23, 2026 7:40 PM ISTTags10 year treasury yieldDow JonesNASDAQ