# The S&P 500 leaped 2.1% after Trump announced a two-week ceasefire with Iran.

*business · news · 2026-04-08 · Barchart*

## Key points

- President Trump announced a two-week ceasefire with Iran, averting immediate escalation in the Gulf.
- Oil prices plunged over 16%, with U.S. crude settling at $94.41 per barrel after the ceasefire.
- Iran closed the Strait of Hormuz again Wednesday in response to Israeli attacks in Lebanon.
- Financial markets surged globally, with Asian and European indexes posting gains above 4%.
- Traders now see a 24% chance the Federal Reserve could resume rate cuts in 2026.

**Companies:** United Airlines, Carnival, Delta Air Lines
**Countries:** United States, Iran, South Korea, Japan, Hong Kong, Germany, France

[Read the full story on Barchart](https://www.barchart.com/story/news/1189210/oil-plunges-below-95-as-the-dow-surges-1-100-in-a-worldwide-rally-following-a-ceasefire-with-iran)

---

Canonical: https://newsio.io/n/08039223-cb0a-4d23-a985-0ed0218bf5c8/the-sp-500-leaped-2-1-after-trump-announced-a-two-week-ceasefire-with-iran
Summarized by Newsio from Barchart. https://newsio.io/how-it-works