Financial Markets Wall Street
Trader Patrick Casey works on the floor of the New York Stock Exchange, Wednesday, June 3, 2026.
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Stocks leap worldwide, and oil prices drop after the US and Iran reach a tentative deal on their war
Stock markets rallied worldwide, and oil prices eased after the United States and Iran reached a tentative deal to get the global flow of crude going again. The S&P 500 rose 1.7% Monday on hopes that this time, the announcement of an Iran-U.S. agreement will mean a long-term fix to a conflict that has worsened inflation around the world. The Dow Jones Industrial Average climbed 0.9% to a record, and the Nasdaq composite jumped 3.1%. Brent crude’s price fell 4.8%, helping stocks of companies with big fuel bills to jump. AI stocks also rallied following their sharp swings over the last couple weeks.
Stocks wavered to a mixed close on Wall Street as losses for several tech giants including Microsoft weighed on the market. The S&P 500 fell 0.1% on Wednesday, even though more stocks rose than fell within the index. The Dow added 0.4%, and the Nasdaq composite fell 0.4%. Another decline in oil prices helped ease concerns about inflation. Brent crude dropped 3.8%, bringing it closer to where it was before the war with Iran started. Treasury yields fell in the bond market. Google parent Alphabet slipped. The company will replace Verizon in the Dow next week.
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