Archive · 23 Sep 2026
Stocks Fall as Oil Surges Despite Trump’s Productive Iran Talks
Investors were watching talks between the United States and Iran at the United Nations.
President Donald Trump said the talks were very productive and that another meeting would happen soon.
Some people hoped the talks could help oil and gas move safely through the Strait of Hormuz.
Those hopes had recently pushed oil prices lower.
On Wednesday, however, oil prices jumped about 3% to almost $103 a barrel.
Stock markets fell in the United States, Europe, and parts of Asia.
Investors remained worried about war and inflation.
Some Asian technology markets still rose despite the broader declines.
Global stock markets declined Wednesday as investors assessed prospects for a deal ending the Mideast war.
Brent crude rose about 3% to nearly $103 per barrel, reversing recent declines.
Donald Trump called three-hour US-Iranian talks at the United Nations “very productive” and said another meeting was planned soon.
The Dow and S&P 500 fell 0.6%, while the Nasdaq dropped 1.0% to 26,967.32 points.
European and several Asian markets also declined, although South Korea’s Kospi and Taiwan’s Taiex gained nearly 1%.
- Who
- US President Donald Trump and representatives from the United States and Iran; global investors and markets were also affected.
- What
- Stocks declined while Brent crude oil rose sharply after Trump described US-Iran talks as productive.
- When
- Wednesday, September 23, 2026; the talks took place Tuesday.
- Where
- The talks occurred at the United Nations General Assembly in New York, while market moves occurred globally.
- Why
- Investors were weighing hopes for diplomacy against continuing geopolitical tensions, possible disruption around the Strait of Hormuz, and inflation risks.
Diplomatic Optimism
Geopolitical Caution
Market interpretation
Diplomatic Optimism
Stephen Innes of Quintex Intel said the United Nations meeting shifted markets from pricing pure war escalation toward a genuine diplomatic process.
Geopolitical Caution
Analysts noted that a final deal still appeared distant and that persistent geopolitical tensions continued to pressure markets.
Oil-price outlook
Diplomatic Optimism
Hopes for an agreement allowing Gulf oil and gas to move freely through the Strait of Hormuz had recently pushed oil prices sharply lower.
Geopolitical Caution
Oil later climbed about 3%, with Dan Coatsworth of AJ Bell warning that the sudden increase showed investors should not become complacent about inflation risks.
- Brent crude
- Rose around 3% to nearly $103 per barrel.
- Dow and S&P 500
- Each declined 0.6% more than two hours into Wall Street trading.
- Nasdaq
- Fell 1.0% to 26,967.32 points after reaching an all-time high Tuesday.
- Talk duration
- Trump said Tuesday’s US-Iran meeting lasted three hours.
- European markets
- Frankfurt fell 0.7%, Paris lost almost 0.5%, and London finished flat.
- Asian markets
- Hong Kong fell 1.0% and Shanghai declined 0.4%; South Korea’s Kospi and Taiwan’s Taiex gained nearly 1%.
- Economic outlook
- The OECD slightly raised its 2026 global economic growth forecasts.