Getty Images via AFPAI Quick ReadMajor US stock indices soared on Wednesday after the US and Iran agreed to a two-week ceasefire and crude oil prices plunged.
At the opening bell, the Dow Jones Industrial Average rose 393.7 points, or 0.85%, to 46,978.17. The S&P 500 rose 137.5 points, or 2.08%, to 6,754.36, while the Nasdaq Composite rose 803.4 points, or 3.65%, to 22,821.209.
Just hours before a deadline Trump had set for Iran to open the Strait of Hormuz and allow oil to flow freely again from the Persian Gulf to customers worldwide, the US, Iran and Israel agreed to a two-week ceasefire.
Benchmark US crude sank $18.43 to $94.52 a barrel, a nearly 16% decline, while Brent crude, the international standard dropped $15.54 to $93.73 a barrel. Natural gas futures tumbled close to 5%.
With a distinguished career spanning nearly two decades at the highest levels of financial journalism, Rajendra Kumar Saxena stands as a cornerstone of the editorial leadership team at Livemint.com. In his current capacity as Content Editor, he is responsible for managing the comprehensive editorial lifecycle of the publication. His role is multifaceted, encompassing the strategic selection of high-impact stories, original reporting, and meticulous editing.
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His eighteen years journey in financial and business journalism includes a significant tenure at Financialexpress.com and freelance contributions to The Hindu.
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Currently based in Delhi, Rajendra holds a Master of Journalism degree from the prestigious Makhanlal Chaturvedi National University of Journalism and Communication (MCNUJC). His blend of academic rigor and decades of on-the-ground experience makes him a leading voice in navigating the complexities of today’s financial world.