03:47 PM EDT, 04/01/2026 (MT Newswires) -- US equity indexes jumped while crude oil futures fell ahead of Wednesday's close as expectations build for the Iran war to end soon.

The Nasdaq Composite jumped 1.2% to 21,852.3, with the S&P 500 up 0.9% to 6,584.3 and the Dow Jones Industrial Average higher by 0.7% to 46,642.5.

In a letter to the American people, Iranian President Masoud Pezeshkian warned of "consequences that extend far beyond Iran's borders," Sky News reported Wednesday. The announcement from Tehran will come ahead of President Donald Trump's address to the US late in the day.

"Exactly which of the American people's interests are truly being served by this war? Was there any objective threat from Iran to justify such behavior?" the Iranian president posed a question in the letter, according to a report from CNN.

Trump plans to deliver an "important update on Iran" as he expects to wrap up the Iran war in "two weeks, maybe three," multiple media sources reported on Wednesday. The US has achieved its goals in Iran, Trump said, primarily that of curtailing its ability to obtain a nuclear weapon, BBC reported.

West Texas Intermediate crude oil futures dropped 1.6% to $99.71, and Brent crude futures slid 2.7% to $101.07.