Global markets rallied and oil prices fell to their lowest level in roughly three months on Monday after President Donald Trump announced a peace deal with Iran that would reopen the Strait of Hormuz.
A 607-point advance, equal to a 1.2% gain, carried the Dow Jones Industrial Average to a fresh all-time intraday peak
Broader indexes also posted strong gains, with the S&P 500 up 1.3% and the Nasdaq Composite finishing 2.2% higher. WTI crude settled at $79.72 a barrel, a 6% decline. August Brent futures closed at $82.74 a barrel after shedding more than 5% — a level not seen since early March and roughly 30% below the $119.50 peak Brent reached during the height of the conflict.
European natural-gas prices also fell. International equity markets moved sharply higher. The gains were broad-based across Asia and Europe: South Korea’s Kospi advanced 5.2%, Tokyo’s Nikkei 225 rose 5% to set a record intraday mark, and the pan-European Stoxx 600 added 0.6%.