Markets rally as oil plunges

The Dow Jones Industrial Average and other major global markets saw record gains as investors reacted to the de-escalation of the U.S.-Iran conflict.

Brent crude futures dropped by approximately 15%, providing much-needed relief to an economy battered by rising fuel costs.

Traders have also revived bets on potential interest rate cuts by the Federal Reserve, which were previously sidelined by inflation concerns.

Despite the optimism, analysts remain cautious about the long-term economic scars and the time required to restore full shipping capacity.