Major technology stocks moved higher on Monday after President Donald Trump announced a five-day delay to further strikes targeting Iranian power plants and energy infrastructure, following what he described as “productive” discussions between Washington and Tehran.
Shares of Nvidia (NASDAQ:NVDA) gained 2%, while Meta Platforms (NASDAQ:META) rose 1.8% and Amazon (NASDAQ:AMZN) advanced 1.5%. Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOGL) each increased by about 0.8%.
The gains followed Trump’s announcement that military action against Iranian energy facilities would be temporarily postponed. However, Iran’s Fars news agency, citing a source, disputed Trump’s description of the situation, saying there had been no direct or indirect contact with the United States.
According to the same report, Trump stepped back from plans to target Iranian power plants after Tehran warned it would respond by striking power infrastructure across West Asia.
The decision to pause military action helped calm immediate fears of further escalation in the Middle East that could disrupt global energy markets and weigh on economic activity. Technology stocks — which are often sensitive to geopolitical tensions due to their exposure to global supply chains and economic growth — reacted positively to the news.