Stock markets surge as Trump calls off strikes on Iran, touts peace deal
Summary
Stock markets rose sharply after President Donald Trump said he called off planned strikes on Iran and indicated a peace deal could happen soon. Major US and Asian stock indexes increased, and oil prices dropped slightly on hopes the conflict in the Strait of Hormuz might ease.Key Facts
- President Trump announced he called off military strikes against Iran.
- Trump said a peace agreement with Iran is close to being finalized.
- The S&P 500 index in the US rose nearly 1.8 percent, ending three days of losses.
- The Nasdaq index gained 2.5 percent, and the Dow Jones increased 1.9 percent.
- Asian markets in Japan, South Korea, Taiwan, Hong Kong, and Australia also saw significant gains.
- Brent crude oil prices fell by about 1 percent, dropping below $89.50 per barrel.
- Iran has not confirmed the deal but acknowledged there is a memorandum of understanding under review.
- Experts said the market rise shows reduced fears of conflict and reflects optimism about future trading conditions.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.