# US stock markets rallied sharply on Wednesday while crude oil prices plunged toward $90 per barrel.

*business · news · 2026-04-08 · Times of India*

## Key points

- President Trump announced a two-week ceasefire with Iran, easing immediate oil supply fears.
- US benchmark crude oil prices fell 17.7% to $92.92 per barrel after the ceasefire announcement.
- Traders now see a 39% chance of Federal Reserve rate cuts in 2026 due to lower inflation risks.
- Despite the rally, markets remain below pre-war levels and risks persist if tensions resume.

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

[Read the full story on Times of India](https://timesofindia.indiatimes.com/business/international-business/us-stock-markets-today-april-8-2026-dow-jumps-1300-sp-500-nasdaq-crude-oil-tumbles-us-iran-ceasefire/articleshow/130117041.cms)

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