&imwidth=800&imheight=600&format=webp&quality=medium "US stocks surge, oil plunges below $100 amid optimism on Trump-Iran ceasefire")
US equities surged on Wednesday while oil prices dropped as markets and investors displayed optimism after President Donald Trump announced a temporary two-week ceasefire with Iran. The Dow Jones Industrial Average jumped over 1,100 points, while the S&P 500 and Nasdaq Composite gained more than 2% amid easing geopolitical tensions. The positive sentiment sparked a broad-based rally across sectors.
The Dow surged 1,109 points to 47,693.76, as technology, industrials, and financials steered the gains with key drivers being Intel, Home Depot, and Caterpillar.
The Nasdaq rose 2.48%, fuelled by semiconductor and tech stocks, reflecting renewed optimism in AI and chip demand.
The S&P 500 climbed 2.21%, with broad gains across growth and cyclical sectors, but energy lagged due to falling crude prices.
The NYSE Composite gained 1.79%, reflecting strong momentum in large-cap industrials and financials.
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President Trump’s announcement of a two-week ceasefire with Iran led to a shift in market sentiment. At a time when the risk of a prolonged Middle East conflict had pushed oil higher and equities lower, the ceasefire announcement assuaged and triggered a rebound.
The primary catalyst for the rally on Wednesday was the hope of the Strait of Hormuz reopening since the vital shipping lane handles a fifth of the world’s oil supply. Oil prices fell sharply as inflationary pressure eased.
The easing of Middle East tensions caused oil prices to plunge below $93.
WTI crude fell 17% to $93.42 per barrel, while Brent crude dropped 16% to $91.65 per barrel, fuelling a surge in US stocks and easing inflation fears.
Trump’s two-week Iran ceasefire eased Middle East tensions.
