Markets Rally After US-Iran Ceasefire

International markets rallied following the announcement of a two-week ceasefire between the United States and Iran. Stocks rose and oil prices fell.

The US President stated that he agreed to suspend planned attacks on Iranian infrastructure, provided that Tehran proceeds with a "full, immediate, and safe opening of the Strait of Hormuz."

In South Korea, the Kospi index rose by over 5%, while the small-cap Kosdaq index increased by 3.4%. In Japan, the Nikkei 225 recorded gains of 4% and the Topix 3.2%.

In the US, Dow Jones futures rose by 967 points or 2.1%, S&P 500 futures increased by 2.1%, and Nasdaq 100 futures rose by 2.3%.

Despite the de-escalation, the spot price of gold increased by 2.2% to $4,803.83 per ounce.

Oil prices fell below $100 per barrel. US crude West Texas Intermediate fell by over 14% to $96.98, while Brent recorded losses of over 13%, settling near $94.5 per barrel.