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European stocks rise over 1%; oil prices fall 5%
The UK and US stock markets are closed for a holiday on Monday, and European stocks rose over 1%.
As of 11:30 p.m. Hong Kong time, the German DAX index was at 25,376 points, up 487 points or 1.96%; the French CAC 40 index was at 8,274 points, up 158 points or 1.96%; the Italian FTSE MIB index was at 50,258 points, up 747 points or 1.51%.
Dow futures are temporarily at 51,081 points, up 419 points.
U.S. President Trump stated on social media Monday that the agreement reached with Iran is either a great and meaningful deal or there will be no deal at all, and he will not sign an agreement that paves the way for Iran to acquire nuclear weapons.
Iranian Foreign Ministry spokesperson Bagheri said that negotiations between Iran and the U.S. have made some progress, but whether an agreement can be reached soon "depends on the United States." He reiterated that any hostile actions against Iran will be responded to.
Oil prices declined, with New York crude futures currently at $91.46 per barrel, down $5.14 or 5.32%; London Brent crude futures are at $95.38, down $4.81 or 4.8%.