Stocks leap worldwide, and oil prices drop after the US and Iran reach a tentative deal on their war

Global stock markets rallied after the United States and Iran agreed on a tentative framework to extend their ceasefire and reopen the Strait of Hormuz, easing energy-price pressures. The S&P 500 rose 1.7%, the Dow industrials gained 468 points to a record, and the Nasdaq climbed 3.1%. Brent crude fell 4.8% to $83.17 per barrel, returning to levels seen in early March while remaining above prewar prices. Iran confirmed the deal, but talks on its nuclear program will continue for 60 days, leaving room for potential hiccups. SpaceX surged 19.6% on its Nasdaq debut, lifting its value above $2.1 trillion and highlighting continued appetite for AI-driven growth.