South Korea Financial Markets

A dealer walks past near the screen showing the Korea Composite Stock Price Index (KOSPI) at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, May 6, 2026.

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Oil prices fall and stocks rise on hopes for a deal to allow crude to flow from the Persian Gulf

Oil prices fall and stocks rise on hopes for a deal to allow crude to flow from the Persian Gulf

Crude oil prices are sinking, and stock markets are bursting higher worldwide with hopes that the United States and Iran are nearing a deal to allow ships to once again deliver crude from the Persian Gulf. The S&P 500 climbed 0.6% early Wednesday and was heading for another record. The Dow Jones Industrial Average rose 512 points, and the Nasdaq composite rose 0.6%. Stock markets abroad had even bigger gains. Brent crude sank 5.9%. AMD soared after joining the lengthening list of companies reporting better-than-expected profits. CEO Lisa Su said the chip company benefited from continued growth from artificial-intelligence technology.