The S&P 500 index reversed its decline and turned positive on Monday, at one point climbing 1%. The shift occurred after U.S. President Donald Trump stated in an interview with CBS that a conflict with Iran could end soon and mentioned that the United States is considering taking control of the Strait of Hormuz. Earlier on Monday, the benchmark U.S. stock index had fallen by as much as 1.5%. By 3:18 PM New York time, the index had moved from negative territory into positive gains.
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