March 31, 2026: Trump on Iran Withdrawal Timeline, Stocks Jump, More
episodePreviously titled “Trump on Iran Withdrawal Timeline, Stocks Jump, More” — renamed by the publisher on Aug 2, 2026
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News When You Want It with Bloomberg News Now. I'm Doug Krisner. There was a dramatic recovery in the stock market today on the final day of the first quarter. The rally was driven by speculation that both the U.S. and Iran may be looking for a way out of the war. Then, after the bell, President Trump said he sees the U.S. ending the war in Iran within two to three weeks. Trump also called on other nations to seize control of the Strait of Hormuz.
What happens to the Strait, we're not going to have anything to do with because these countries, China, China will go up and they'll fuel up their beautiful ships and they'll leave and they'll take care of themselves. There's no reason for us to do it. We hit them hard. We got rid of a lot of the radicalized lunatics along the Strait. But if they want something... I would say that within two weeks, maybe two weeks, maybe three.
Now, Trump also indicated it was possible that Iran could still reach a deal with the U.S. during that time frame. And he said an agreement with Tehran was not necessary for the war to end. The United Arab Emirates is reportedly preparing to help the US and other allies open the Strait of Hormuz by force. The Wall Street Journal reports the UAE is lobbying for a UN Security Council resolution to authorize such action. The UAE is also reviewing how it could play a military role in securing the strait. Earlier today, Iranian state media reported President Massoud Prozhetskyan saying the Islamic Republic has the necessary will to end the war, however, only with guarantees to prevent the recurrence of aggression.
On Wall Street, the S&P 500 climbed nearly 3% today and the Nasdaq composite added 3.8%. Here is Lauren Sanfilippo of B of A Private Bank.
We're watching the damage and duration of what's going on in the Middle East, right? And that's what matters. How much longer, which we don't really have a clear signal on that, and what damage to the energy infrastructure, because that will dictate what this recovery will look like on the other side.
That is Lauren Sanfilippio of Bank of America Private Bank. An American journalist was kidnapped on Tuesday in Baghdad, and Iraqi security forces are pursuing her captors. The freelance journalist was identified by one of the outlets she worked for as Shelly Kittleson, a U.S. official blamed the Iran-backed Iraqi militia group Kata'ib Hezbollah. In the States, a federal judge has moved to halt President Trump's efforts to build a new ballroom at the White House until he gets approval from Congress. The judge held that the president likely exceeded his legal authority by overseeing construction of the ballroom. Even so, the judge did pause the effect of his order for 14 days, given logistical issues with halting construction.
Now, the cost of the ballroom could be as much as $400 million using privately raised funds. The U.S. Supreme Court has struck down a ban on conversion therapy. The court ruled in favor of a Christian counselor who says she has a constitutional right to engage in talk therapy to try to change a child's sexual orientation or gender identity. The court said Colorado's ban on conversion therapy for minors infringes on free speech rights by discriminating on the basis of viewpoint.
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