Stocks Gain as US-Iran Truce Deal Spurs Oil Plunge: Markets Wrap
A wave of optimism swept through global financial markets, boosting stocks and cryptocurrencies while spurring a selloff in oil after the US and Iran reached a ceasefire deal.
The rebound in risk appetite drove the S&P 500 up 2.5%. US crude settled below $95, easing concern about an energy crisis and reviving bets the Federal Reserve will cut rates in 2026. Treasuries wavered. As the haven bid waned, the dollar erased its advance for the year. Bitcoin topped $71,000.