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Stocks Gain and Oil Drops on US-Iran Ceasefire Deal | Closing Bell
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April 8, 2026
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10:28Now PlayingWatch comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.
A wave of optimism swept through global financial markets, boosting stocks and cryptocurrencies while spurring a selloff in oil after the US and Iran reached a ceasefire deal.
The rebound in risk appetite drove the S&P 500 up 2.5%. US crude settled below $95, easing concern about an energy crisis and reviving bets the Federal Reserve will cut rates in 2026. Treasuries wavered. As the haven bid waned, the dollar erased its advance for the year. Bitcoin topped $71,000.
Wall Street’s so-called fear gauge - the VIX - sank to pre-war levels. Airlines, which had been pummeled by worries about skyrocketing fuel prices, soared. Emerging-market shares jumped the most since the onset of the pandemic.
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