Ceasefire in Middle East Sparks Market Rebound
Emerging markets experienced recovery after a ceasefire between Israel and Iran. Despite new tensions, investors remained optimistic, with Israeli stocks up 1.3%, Turkish stocks up 2.4%, and Saudi stocks rising 1.5%. Oil prices dropped over 5% as stability seemed to return to the region.
Most emerging market currencies and stocks surged on Tuesday, as investors expressed relief following news of a ceasefire between Israel and Iran that eased fears of further conflict in the Middle East.
U.S. President Donald Trump's announcement of a ceasefire came after Iranian strikes on U.S. bases in Qatar had raised concerns. Tensions flared again as Israel ordered strikes on Tehran, accusing Iran of ceasefire violations, which Iran denied.
Despite lingering caution, markets viewed the truce positively. Israeli stocks rallied by 1.3%, and the shekel hit a two-year high against a weaker dollar. Turkish stocks climbed 2.4%, while Saudi Arabian stocks edged up 1.5%. Oil prices fell over 5% as stability returned.
(With inputs from agencies.)
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- ceasefire
- Israel
- Iran
- emerging markets
- oil prices
- stocks
- U.S. bases
- Qatar
- shekel
- Turkish stocks
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