# U.S. equity markets are dark Monday for Memorial Day, but global risk assets are roaring.

*business · news · 2026-05-25 · Benzinga*

## Key points

- Global markets surged on optimism that the U.S. and Iran may soon reach a Strait of Hormuz deal.
- Talks are stalled over Iran's nuclear language and Tehran demands China-backed guarantees for uranium shipment.
- European equities hit four-month highs, fully reclaiming their pre-Iran war levels.
- A sharp drop in crude prices led to speculation of softening inflation and impacted rate hike expectations.

**Countries:** United States, Iran, China

[Read the full story on Benzinga](https://www.benzinga.com/markets/market-summary/26/05/52767283/wall-street-closed-global-stocks-rally-oil-sinks-7-percent-iran-deal-hopes-markets-monday)

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