CNBC anchors stunned as Trump’s Iran post lifts stock futures, sends oil prices plunging
NEW YORK CITY, NEW YORK: CNBC anchors broke into live coverage and appeared visibly stunned Monday, March 23, as President Donald Trump's post on Iran on Truth Social triggered an immediate surge in stock futures and a sharp drop in oil prices.
On Squawk Box, hosts Joe Kernen and Becky Quick appeared amazed as Dow futures jumped by about 1,100 points and oil prices tumbled following Trump's remarks about "very good and productive" talks with Iran.
Stocks, oil prices react as Trump posts about Iran
On Squawk Box, hosts Kernen and Becky Quick interrupted an interview to monitor the developments live as futures surged.
"Hold on for just a second, please," Quick told the show's guest.
"I gotta see this Truth Social post," Kernen added. "Look at the futures!"
Kernen then read aloud from Trump's post, in which the president wrote, "I HAVE INSTRUCTED THE DEPARTMENT OF WAR TO POSTPONE ANY AND ALL MILITARY STRIKES AGAINST IRANIAN POWER PLANTS AND ENERGY INFRASTRUCTURE FOR A FIVE DAY PERIOD, SUBJECT TO THE SUCCESS OF THE ONGOING MEETINGS AND DISCUSSIONS."
Donald J. Trump Truth Social Post 07:23 AM EST 03.23.26 pic.twitter.com/SfWY4o7k5U
— Commentary Donald J. Trump Posts From Truth Social (@TrumpDailyPosts) March 23, 2026
"Obviously, the markets reacting with some relief over that," Quick said.
"Ya think?!" Kernen replied.
TACO in focus as crude oil prices drop
The hosts then reviewed market data, pointing to a sharp drop in oil prices alongside the equity rally. West Texas Intermediate crude oil price fell by about 12.7% in early trading, one of the steepest single-session declines in recent months.
"Wow!" Quick said.
Analysts broadly view oil markets as highly sensitive to any indication of reduced conflict in the Middle East, particularly when infrastructure or supply routes could be affected.
Kernen also referenced the "TACO" nickname used by some investors, an acronym for "Trump always chickens out," a phrase that has circulated among critics of the president's foreign policy approach.
"Cue the TACO scuttle from the left and from Democrats, because I don't know how long it will take us to see that," Kernen said. "Because they're not happy when the war is going on. They won't be happy when it's over."
