Oil plunges 14%, stocks jump up to 5.6% as US-Iran ceasefire reopens Hormuz
Oil prices plunged below USD 100 a barrel and Asia markets and US stock futures jumped after the US and Iran agreed to a two-week ceasefire that includes the reopening of the Strait of Hormuz.
Japan’s benchmark Nikkei 225 rose 4.8% and South Korea’s Kospi gained 5.6%. Futures for the S&P 500 advanced 2.3% as of 9:30 pm EDT, while Dow futures rose 2%.
