Overview
- World stocks rose on Wednesday and oil fell toward $100 a barrel following Tuesday's remarks from President Trump about a near-term end to U.S. strikes in Iran.
- Trump said the United States could stop attacking Iran in two to three weeks and that Tehran would not need to sign a deal for the pullback.
- The White House set a 9 p.m. ET address for Trump to give an update on Iran.
- Asian markets led the rebound, with South Korea's Kospi jumping as much as 9% and Japan's Nikkei rising about 5%, while India's Sensex gained more than 2%.
- Oil’s retreat reflected hopes of lower risk, yet analysts warned that bottlenecks at the Strait of Hormuz could keep prices high as U.S. gasoline has already climbed above $4 a gallon.