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International Business Times UK

Business

Niloy Chakrabarti

US Stock Futures Surge as Trump Announces Iran Ceasefire; Oil Prices Plummet, Gold Soars

United States Iran Donald Trump Oil Gold Abbas Araghchi Seyed Abbas Araghchi Strait of Hormuz Bitcoin

Trump says the two-week ceasefire will help finalize a peace agreement with Iran. (Credit: Gregory Andrews/X)

US stock futures surged on Wednesday while oil prices slipped after US President Donald Trump declared a two-week 'double-sided ceasefire' with Iran, triggering a wave of relief among global investors.

S&P 500 futures gained 2.5%, while the Nasdaq 100 and Dow Jones Industrial Average futures soared 3.3% and 2.4%, respectively. Crude oil futures cratered 15.9% to $94.98 per barrel while gold prices surged 3% to $4,827.4 per ounce.

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