Global Market Today | Oil dives, Asian stocks surge as Trump agrees to two-week ceasefire

April 8, 2026

Oil prices plunged and stocks surged Wednesday following a two-week ceasefire in the Middle East. U.S. President Trump announced an agreement to suspend attacks on Iran, easing fears of a prolonged conflict that had disrupted oil and gas flows through the Strait of Hormuz. Markets reacted positively to the potential for renewed energy transit and a long-term peace deal.

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