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The S&P 500 leaped 2.1% after Trump announced a two-week ceasefire with Iran.
President Trump announced a two-week ceasefire with Iran, averting immediate escalation in the Gulf.
KEY POINTS
- 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
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