Stocks near record high as crude oil drops on Iran
Global stocks climbed to approach a record high as crude oil fell after officials signaled the US was nearing a deal with Iran to reopen the Strait of Hormuz and restore oil flows. The dollar weakened.
Ceasefire relief: What the US-Iran truce means for oil, equities and currencies
A fragile US-Iran truce has sparked a sharp market relief rally, but six weeks of conflict damage means full recovery remains uncertain.
Iran war wipes out $100 billion from luxury stocks
Shares of LVMH and Hermès are down roughly 16% and 20%, respectively, this month, while the S&P 500 has fallen less than 6%. Shares of Ferrari are also down 15%, and the company announced it would temporarily suspend deliveries to the Middle East.