Five weeks of held breath just exhaled from the U.S. stock market this morning, and it was worth about $1.5 trillion.
The rally caps a frantic 24 hours. Trump set an 8 p.m. Tuesday deadline for Iran to reopen the Strait of Hormuz or face strikes on its bridges, power plants, and what he called its “whole civilization.” Pakistani Prime Minister Shehbaz Sharif spent the afternoon shuttling between Washington and Tehran, ultimately brokering the framework that became the ceasefire. Trump posted his acceptance on Truth Social with less than two hours to spare.
