Stocks soar to session highs after Trump calls off Iran strikes

Wall Street celebrated like it just got a snow day. After President Trump announced a temporary pause on US military strikes against Iranian energy infrastructure, all three major indexes ripped to session highs, with the Dow Jones opening 800 points higher, a 1.7% jump. The S&P 500 climbed 1.5%, and the Nasdaq led the charge at 1.8%.

Bitcoin didn’t need a second invitation. The largest cryptocurrency surged more than 5% following the March 23 announcement, peaking at $71,794 as risk appetite flooded back into markets across the board.

Oil prices dropped sharply on the news. Brent crude had spiked nearly $2 per barrel during earlier escalation phases, so the reversal gave energy-sensitive sectors room to breathe.

By June 2026, the US-Iran conflict had stretched past 100 days of sustained tension, featuring fragile ceasefires, renewed military strikes, and the downing of a US helicopter. During those June flare-ups, Bitcoin traded in a choppy range between $62,000 and $66,300, and approximately $350 million in crypto liquidations were triggered during periods of heightened military threats.

The regulatory side of the conflict also bled into crypto. In April 2026, US authorities froze $344 million in digital assets tied to Iran as part of ongoing sanctions enforcement.

The $350 million in June liquidations is a cautionary tale about sizing positions appropriately. Leveraged long bets on Bitcoin work spectacularly during relief rallies, and they destroy capital just as spectacularly during surprise escalations.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.