business / news / / The Economic Times
Global stock markets soared and oil prices dropped significantly on Wednesday.
President Trump announced a two-week ceasefire with Iran before a key Strait of Hormuz deadline.
KEY POINTS
- Oil prices dropped sharply, nearing $90 per barrel, following the ceasefire announcement.
- The S&P 500 surged 2.5%, with the Dow Jones up 1,126 points and Nasdaq rising 2.3%.
- European and Asian stock markets experienced even larger gains than US markets after the news.
COMPANIES
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