Dow Soars By 1,000 Points Meanwhile S&P 500 Tops 7,100 For The First As Strait Of Hormuz Declared Fully Open In Recognition Of Ceasefire Between Israel And Lebanon
According to CNBC, the major international markets have made big moves and comebacks following the tweet of major announcement in which Iranian Foreign Minister Abbas Araghchi stated that all commercial vessels will be given complete and open passage in recognition of the ceasefire between Israel and Lebanon. Though this is great news and a huge step towards lasting peace, it is worth noting that for now, the complete opening of the Strait of Hormuz is temporary and as long as the ceasefire holds.
Therefore, it is important for all parties to practice restraint, caution and to continue dialogue and compromises to ensure that everlasting peace is plausible and a reality as soon as possible.
The biggest movers and beneficiaries of the reopening of the Strait of Hormuz has been international markets such as Dow, S&P 500, Nasdaq Composite and The Russell 2000. For example, according to CNBC, “Dow Jones Industrial Average rose by 1,049 points or 2.2%, the S&P traded up 1.4% and crossed 7,100 points for the first time while the Nasdaq Composite gained 1.6%. The Russell 2000 also reached a fresh high. The small-cap index was last up 2.2%.”
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