Oil price falls to three-month low and markets rally after US-Iran peace deal - business live
Global stock markets and the Dow Jones industrial average reached record highs following a peace deal between the US and Iran. The agreement to reopen the Strait of Hormuz has eased geopolitical tensions and lowered oil prices.
Why it matters
The reopening of a critical global energy chokepoint significantly reduces the risk of a global energy crisis and boosts investor confidence.
The New York Stock Exchange Photograph: Anadolu/Getty Images Boom! The US Dow Jones industrial average has hit a record high in early trading, as Wall Street jumps.
Reports on market reactions and official statements without editorializing the political implications.
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