Stocks Rebound as US-Iran Tensions Ease, Yen Surges Against Dollar

Stocks in the US rose on Wednesday after three days of declines as investors monitored developments in the U.S.-Iran conflict. The Japanese yen surged against the dollar, with a gain of 0.79% to 158.92 per dollar.

The rise in borrowing costs across major economies had previously raised concerns about tighter monetary policy and deteriorating fiscal conditions. However, US Treasury yields eased from multi-year highs on Wednesday.

Oil prices increased by about 1% amid worries about further disruption to energy supplies. Brent crude futures rose 98 cents to settle at $95.63 a barrel, while U.S. West Texas Intermediate crude futures gained 79 cents to settle at $91.01.