Dow Jumps 600 Points, S&P 500 Closes Above 7,300 on Hopes of Iran Deal
U.S. stocks rallied sharply on Wednesday after reports suggested that the United States and Iran were nearing an agreement to end the war, fueling optimism across Wall Street and pushing major indexes to fresh record levels.
The Dow Jones Industrial Average surged about 612 points, or 1.24%. The S&P 500 advanced 1.46%, marking its first-ever close above the 7,300 level. Meanwhile, the Nasdaq Composite climbed 2.02%, led by strong gains in technology shares.
Reports indicated that both countries were close to reaching a deal that could resolve the conflict, including a potential moratorium on Iran’s nuclear enrichment. An Iranian Foreign Ministry spokesperson also confirmed that Tehran is reviewing a U.S. proposal aimed at reaching a resolution.
However, President Donald Trump later cautioned that a deal is not guaranteed, describing it as “perhaps, a big assumption” that Iran would agree to the U.S. proposal. Following his remarks, equity markets pulled back slightly from their intraday highs. Trump also warned that if no agreement is reached, military action could resume at a higher intensity.
In addition, Trump announced a temporary pause of “Project Freedom,” the U.S. initiative to guide ships out of the Strait of Hormuz. He cited significant progress toward a comprehensive agreement with Iran as the reason behind the decision, reinforcing market hopes that geopolitical tensions may ease in the near term.
Source : Newsmaker.id
