Stocks surge as agreement to reopen the Strait of Hormuz ignites global rally

“Deal with the Islamic Republic of Iran is now complete. Congratulations to all!"

(Bloomberg) -- Stocks rallied, oil slumped and the dollar fell after the US and Iran said they had reached a deal to reopen the Strait of Hormuz.

Asian shares climb with Japan’s Nikkei nearing record close

The US and Iran have agreed on an interim deal to end the war, removing a major overhang for markets and sending oil prices lower