US-Iran Tensions Eased, Stocks Waver as Oil Prices Plummet

The US-Iran conflict has momentarily cooled down as both countries paused their attacks and negotiations to end the war are back on track. The impact of this development is being felt in financial markets, with stocks wavering on Wall Street.

The S&P 500 index fell by 0.2%, coming off two consecutive weekly losses. Meanwhile, the Dow Jones Industrial Average rose by 218 points (or 0.4%) as of 10:37 a.m. Eastern time. The Nasdaq composite also took a hit, falling by 0.6%.

The sharp drop in oil prices was another notable consequence of this shift in global dynamics. Crude oil prices fell by 5%, reflecting investors' reduced concerns about supply disruptions and escalating tensions in the region.