A US-Iran interim peace deal sends the S&P 500 and Nasdaq higher while oil drops 33% from March highs, easing inflation fears across global markets.

Stock markets rallied worldwide, and oil prices eased after the United States and Iran reached a tentative deal to get the global flow of crude going again.

The US-Iran interim peace deal reopens the Strait of Hormuz, sends oil prices down over $3 per barrel, and pushes Bitcoin toward $64,100 in a broad risk-on