Wall Street had already set records on Tuesday, with the S&P 500 rising 0.8 per cent to a new all-time high

Oil prices flatlines in Asia as US launches effort to free ships from Strait of Hormuz

Wall Street had already set records on Tuesday, with the S&P 500 rising 0.8 per cent to a new all-time high

US president briefly pauses ‘Project Freedom’ operation escorting ships through strait of Hormuz

US president pauses ‘Project Freedom’ to work on ‘final agreement’ with Tehran; stocks also ride high on AI euphoria

Global oil prices plummeted and financial markets rallied after Washington paused a bid to reopen the Hormuz Strait to give peace negotiations a chance

Iranian foreign ministry spokesperson says US proposal is still being considered

Wall Street saw even sharper swings earlier in the war, when hopes rallied for a reopening of the Strait of Hormuz, only to get quickly dashed.