Overview
- President Donald Trump said on Thursday he called off planned strikes on Iran after talks reached the highest levels of Iranian leadership and that a signing could be announced shortly.
- Global equity markets jumped after the announcement, with major U.S. indexes posting their biggest one-day gains in weeks and Asian bourses surging on revived risk appetite.
- Oil prices fell sharply to roughly two-month lows on the news as traders pared bets on supply disruptions from the Strait of Hormuz.
- The market rally was amplified by SpaceX pricing a record $75 billion IPO, a separate liquidity and sentiment event that boosted tech and risk assets.
- Iran has not confirmed a final agreement and officials say no conclusion has been reached, leaving the truce fragile and markets vulnerable to renewed escalation.