Markets rally on peace prospects

The S&P 500 and Nasdaq reached all-time highs for a third consecutive session following Tehran's announcement that the Persian Gulf's primary oil artery is open for business.

The Dow Jones Industrial Average soared over 1,000 points, marking one of the fastest recoveries in market history as traders price out the economic damage of the conflict.

While fertilizer and chemical sectors saw sharp declines due to falling input costs, the broader market celebrated the potential for normalized global trade.

However, energy analysts warn that a full return to pre-war pricing could take months given the logistical challenges of restoring shipping volumes.