Dow Jones futures surged and oil prices plummeted following an agreement between the US and Iran to halt hostilities. The deal includes a critical commitment from Iran to keep the Strait of Hormuz open.
- Dow Jones futures increased by 1,200 points
- Two-week cease-fire established between US and Iran
- Strait of Hormuz to remain open for transit
- Crude oil prices dived following the announcement
- Immediate reduction in geopolitical risk premium
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