Dow Jumps 1,300 Points for Best Day Since April 2025 as U.S.-Iran Ceasefire Sends Oil Lower
U.S. stocks surged on Wednesday after President Donald Trump suspended attacks on Iran for two weeks, pausing a five-week conflict that had shut a crucial waterway for global energy supplies.
The Dow Jones Industrial Average jumped 1,325.46 points, or 2.85%. The S&P 500 rose 2.51%, and the Nasdaq Composite climbed 2.80%.
Oil prices fell sharply as the ceasefire reduced geopolitical risk premia. West Texas Intermediate (WTI) crude futures tumbled more than 16% to settle at $94.41 a barrel, marking their biggest one-day drop since April 2020. International benchmark Brent for June delivery fell about 13% to settle at $94.75 a barrel.
“I agree to suspend the bombing and attack of Iran for a period of two weeks,” Trump wrote on Truth Social. “We received a 10-point proposal from Iran, and believe it is a workable basis on which to negotiate.”
Trump said the “double-sided” ceasefire is contingent on Iran agreeing to reopen the Strait of Hormuz. Iran’s Supreme National Security Council has agreed to reopen the waterway for two weeks as long as all attacks are halted, according to a statement from Iran’s foreign minister. The statement added that transits would need to be coordinated with Iran’s armed forces. Israel also agreed to the ceasefire, according to media reports.
Source : Newsmaker.id
