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Oil Prices Plummet, Stocks Surge After Middle East Deal

Published 1 day, 16 hours ago
Description

Oil prices plummeted following a Middle East ceasefire, sparking a relief rally in stocks and a drop in the US dollar. The S&P 500 futures surged over 2%, European indices soared more than 4%, and Asia-Pacific shares outside Japan climbed 4%. Treasury yields also dipped, with the 10-year note falling 7.9 basis points to 4.261%. However, experts caution that the real test lies in the next two weeks as talks progress and tanker traffic resumes through Hormuz. Gold prices surged over 2% to $4,812 an ounce, and the Australian dollar rose 1.3% above 70 cents. Despite the rally, skeptics warn that the root issues remain, keeping re-escalation risks high.

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