Japan Financial Markets

A person walks by an electronic stock board showing Japan's Nikkei index in Tokyo Wednesday, April 8, 2026.

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Oil plunges below $95 as the Dow surges 1,300 in a worldwide rally following a ceasefire with Iran

Oil plunges below $95 as the Dow surges 1,300 in a worldwide rally following a ceasefire with Iran

Oil prices plunged below $95 per barrel, and stock markets surged worldwide after President Donald Trump pulled back from his threat of devastating attacks against Iran. The S&P 500 leaped 2.5% Wednesday after Trump announced a two-week ceasefire. The Dow Jones Industrial Average soared 1,325 points, and the Nasdaq composite rallied 2.8%. To be sure, stock prices are still below where they were before the war. And oil prices are still higher because the threat remains that the war could continue. Prices for both stocks and oil pared big moves as trading progressed Wednesday.