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

*business · news · 2026-04-08 · Anchorage Daily News*

## Key points

- President Trump announced a two-week ceasefire with Iran just before a key deadline.
- Oil prices plunged over 16% after the ceasefire, with U.S. crude dropping to $92.92 per barrel.
- Iran claims the deal allows it to formalize charging ships passing through the Strait of Hormuz.
- Market expectations now see a 39% chance the Fed could resume rate cuts in 2026.

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

[Read the full story on Anchorage Daily News](https://www.adn.com/nation-world/2026/04/08/oil-plunges-toward-90-as-the-dow-surges-in-a-worldwide-rally-following-a-ceasefire-with-iran/)

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