Wall Street Extends April Surge on Peace Prospects: Markets Wrap

Speculation the Iran war is poised to end sent risky assets surging anew, extending a month-long rally that has sent the S&P 500 to a succession of records, added around $12,000 to the price of Bitcoin and pushed up credit and gold.

A global risk-on surge swept Wall Street after Iran declared the Strait of Hormuz “completely open” for commercial traffic, erasing much of the fear that had gripped energy and equity markets through weeks of Middle East conflict. Brent crude sank more than 10%, and the dollar slid against every major peer — even as the contours of any US-Iran deal remained unresolved.