Markets hit record high, S&P 500 hits 7,000 for first time as Iran war death toll continues to climb
&imwidth=600&imheight=450&format=webp&quality=medium "Markets hit record high, S&P 500 hits 7,000 for first time as Iran war death toll continues to climb")
A man has his photograph taken with an electronic quotation board displaying the Nikkei Stock Average on the Tokyo Stock Exchange in Tokyo on April 16, 2026. Photograph: (AFP)
Markets rally even as the Iran war continues and the death toll continues to climb. The S&P 500 and Nasdaq Composite hit record highs as investors bet the conflict may be nearing a deal.
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Wall Street closed at record highs on Wednesday (Apr 15), extending an upward climb on optimism about an accord in the US-Iran conflict that has now killed more than 3,000 people in Iran since the war began on February 28. The S&P 500 closed above 7,000 points for the first time, finishing up 0.8 per cent at 7,022.95. The Nasdaq Composite crossed 24,000 for the first time, gaining 1.6 per cent to end at 24,016.02. The Dow Jones was the outlier, slipping 0.2 per cent to 48,463.72, a modest drag that did little to dampen the day's overall mood.
Markets 'growing increasingly confident' amid truce hopes
The upward climb was driven by two things: solid earnings from major US banks, which signalled that consumers and credit markets remain in reasonable health, and growing confidence, albeit tentative, that the US-Iran conflict may be moving toward some kind of resolution.
"Markets are growing increasingly confident that tensions in the Middle East may be heading toward some form of resolution," said Fawad Razaqzada of FOREX.com, though he added that it "still feels a touch premature to be pricing in a smooth resolution."
It comes as White House Press Secretary Karoline Leavitt told reporters that further talks between the two sides "would very likely" be held in Pakistan, adding that the administration "feels good about the prospects of a deal." Iran's foreign ministry, according to AFP, said "several messages" had been exchanged through Islamabad since negotiations wrapped up without agreement over the weekend.
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Iran's military, meanwhile, warned Wednesday that it would move to block trade through the Red Sea, the Gulf, and the Sea of Oman if the US naval blockade on Iranian ports continues.
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Federal Reserve flags 'uncertainity'
The Federal Reserve, in its "beige book" survey of economic conditions released Wednesday, said that "The conflict in the Middle East was cited as a major source of uncertainty that complicated decision-making around hiring, pricing, and capital investment." Many firms were "adopting a wait-and-see posture," it added.
Human cost of war continues to climb
Meanwhile, the human cost of the war continued to climb. A senior Iranian medical official told the press last week that more than 3,000 people had been killed in Iran since the conflict began, with over 26,500 injured. The official did not break down the figures between civilian and military casualties. On the other side, at least 36 deaths and 7,693 injuries have been recorded in Israel. In the US, 13 killed, 365 injured since February 28.
Key figures at 2020 GMT
Brent North Sea Crude: UP 0.2 per cent at $94.93 a barrel
West Texas Intermediate: UP less than 0.1 per cent at $92.29 a barrel
New York - Dow Jones: DOWN 0.2 per cent at 48,463.72 (close)
New York - S&P 500: UP 0.8 per cent at 7,022.95 (close)
New York - Nasdaq Composite: UP 1.6 per cent at 24,016.02 (close)
London - FTSE 100: DOWN 0.5 per cent at 10,559.58 (close)
Paris - CAC 40: DOWN 0.6 per cent at 8,274.57 (close)
Frankfurt - DAX: UP 0.1 per cent at 24,066.70 (close)
Tokyo - Nikkei 225: UP 0.4 per cent at 58,134.24 (close)
Hong Kong - Hang Seng Index: UP 0.3 per cent at 25,947.32 (close)
Shanghai - Composite: FLAT at 4,027.21 (close)
Euro/dollar: UP at $1.1801 from $1.1796 on Tuesday
Pound/dollar: UP at $1.3570 from $1.3567
Dollar/yen: UP at 158.97 yen from 158.79 yen
Euro/pound: UP at 86.95 pence from 86.94 pence
Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.
