Oil prices plummeted six percent as U.S.-Iran tensions paused, sparking a major market rally with the S&P 500, Dow, and Nasdaq all surging. U.S. Ambassador Mike Waltz says diplomacy now has a chance to breathe, but military buildup continues. Iran won’t talk directly to the U.S., but is negotiating with Oman over shipping lanes in the Strait of Hormuz. Rising oil prices and looming tariffs threaten inflation, putting pressure on the Fed’s rate-hike plans — despite expected rate stability this week, investors are already bracing for possible hikes later this year. Markets cheer de-escalation, but underlying tensions and economic forces remain dangerously active.
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