23/03/2026
ASX 200 to bounce, S&P 500 rallies as Trump delays strikes, Oil prices tumble.
Major US benchmarks higher but faded early gains after Trump announced a five-day pause on strikes against Iranian infrastructure, citing "very good and productive conversations" with Iranian officials.
Iran's Foreign Ministry denied any dialogue, sending stocks lower intraday.
Gold experienced a massive reversal, closing the session (-1.8%) lower, off session lows of (-8.7%), which also marked the first touch of the 200-day moving average since Oct-23.
Brent tumbled 8% but still holding above US$100 a barrel, marked the largest one-day dip since the pandemic.
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