Stock markets soar, oil falls as US, Iran confirm deal to end war
Summary
The United States and Iran have agreed to end the war involving the US and Israel. This news caused stock markets in Asia and the US to rise and global oil prices to fall.Key Facts
- Asian stock markets rose sharply after the US-Iran deal was announced.
- Japan’s Nikkei 225 and South Korea’s Kospi indexes climbed over 5 percent.
- US stock futures for the S&P 500 and Nasdaq rose about 1 to 1.6 percent.
- Brent crude oil prices dropped more than 4 percent following the announcement.
- President Donald Trump announced the ceasefire and ordered the reopening of the Strait of Hormuz.
- The US naval blockade on Iranian ports was removed immediately.
- Iran’s security council and foreign affairs officials confirmed the deal.
- The drop in oil prices could ease inflation concerns for central banks worldwide.
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