# The S&P 500 leaped 2.5% 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 16%, dropping below $95 per barrel after the ceasefire announcement.
- Independent analysts report no increase in tanker traffic through the Strait of Hormuz despite White House claims.
- Iran is requiring outbound oil tankers to pay up to $1 per barrel in cryptocurrency tolls.
- Traders now see a nearly 25% chance the Federal Reserve could resume rate cuts in 2026.

**Companies:** United Airlines, Carnival, Delta Air Lines
**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-below-95-as-the-dow-surges-1300-in-a-worldwide-rally-following-a-ceasefire-with-iran/)

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