Ceasefire Hopes Lift Stock Markets as Oil Prices Fall
Markets rallied and oil prices fell after President Trump announced a potential ceasefire between Israel and Iran. Despite missile launches, investors were optimistic. Stocks surged globally, while oil prices plummeted amid diminishing fears of an Iranian blockade. Attention shifts to Federal Reserve actions on interest rates.
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Markets across the globe surged on Tuesday following US President Donald Trump's announcement of a possible ceasefire in the ongoing Israel-Iran conflict. However, tensions remained as Israel reported Iranian missile attacks into its airspace just hours after the truce was declared.
Investors reacted positively to the ceasefire talk, boosting stocks worldwide. In Germany, the DAX rose 1.8%, the CAC 40 in Paris increased by 1.2%, and Britain's FTSE 100 went up by 0.4%. Asian markets also saw significant gains, with Tokyo's Nikkei climbing 1.1% and Hong Kong's Hang Seng jumping 2.1%.
Oil prices continued their descent following Monday's drop, calming fears of a supply disruption through the Strait of Hormuz. Meanwhile, as the Federal Reserve considers interest rate cuts, the focus is on upcoming statements from Fed officials, including Chair Jerome Powell's address to Congress.
(With inputs from agencies.)
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