"Iran's official news agency reported an unconfirmed phone call between President Masoud Pezeshkian and the European Council president, where Pezeshkian said Iran had the 'necessary will' to end the war; provided that 'essential conditions are met, especially the guarantees required to prevent repetition of the aggression.'"
"The Nasdaq still snapped back 795 points, recovering nearly half of its total drawdown over the course of the U.S.-Israeli-Iran war in a single day. The S&P soared 2.89%, representing $1.7 trillion alone, recovering about 30% of its total drawdown since the war began."
"The incredible thing about the rally today wasn't the scale of it, but the fragility of what it was built on. It started Monday night, when the WSJ reported that Trump had told aides he was willing to end the military campaign against Iran even if the Strait of Hormuz remained closed for the most part."
On a beautiful day in New York, the stock market experienced a significant rally, driven by unconfirmed reports of a phone call between Iran's President and the European Council president. The S&P surged 2.89%, recovering $1.7 trillion, while the Nasdaq rebounded 795 points. The rally was fueled by speculation about U.S. military actions in Iran, particularly President Trump's willingness to end military campaigns despite ongoing tensions. The market's rise highlighted its fragility, as it relied on uncertain geopolitical developments.
Read at Fortune
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