# The S&P 500 leaped 2.4% after Trump announced a two-week ceasefire with Iran.

*business · news · 2026-04-08 · The Atlanta Journal-Constitution*

## Key points

- President Trump announced a two-week ceasefire with Iran just before a critical deadline.
- Oil prices plunged over 17%, with U.S. crude dropping to $92.92 per barrel after the ceasefire.
- Iran's deal allows it to formalize charging ships passing through the Strait of Hormuz, though terms are unclear.
- Market expectations now see a 39% chance the Federal Reserve could resume rate cuts in 2026.
- Major global stock indexes surged, with Asia's Kospi up 6.9% and Europe's DAX up 4.9%.

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

[Read the full story on The Atlanta Journal-Constitution](https://www.ajc.com/news/2026/04/oil-plunges-toward-90-as-the-dow-surges-1300-in-a-worldwide-rally-following-a-ceasefire-with-iran/)

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