Oil prices are easing and stock prices are on the rise after President Donald Trump announced that the United States and Iran have discussed a potential end to their war. The price for a barrel of Brent crude fell 10% to $100.96, down from nearly $120 at one point last week, after Trump announced productive talks with Iran regarding a resolution of the conflict. The S&P 500 rose 1.5% after the announcement, but Iran denied any such talks took place. Despite this, the market's reaction remains tentative, with the Dow Jones Industrial Average up by 1.8%, and the Nasdaq composite jumping 1.6%. Meanwhile, European stock markets saw sharp drops, with South Korea's Kospi and Japan's Nikkei 225 dropping 3.5%. Treasury yields also eased following the announcement. Despite the drop, Treasury yields remain above where they were before the war began, which could keep the Federal Reserve and other central banks from resuming their interest rate cuts.