Stock Markets Rally as Trump Cancels Iran Strikes

Stock markets have risen sharply after US President Donald Trump announced he had cancelled planned strikes against Iran. He also hinted that a peace deal with Iran could be close.

On Thursday, Wall Street’s S&P 500 index gained nearly 1.8 percent. This marked the biggest daily increase since April and ended three days of losses. The tech-focused Nasdaq Composite rose by 2.5 percent, and the Dow Jones Industrial Average increased by about 1.9 percent.

Asian markets continued to rise on Friday. In Japan, South Korea, Taiwan, Hong Kong, and Australia, gains were recorded. South Korea’s Kospi jumped over 8 percent, while Japan’s Nikkei 225 climbed up to 4 percent. Taiwan’s TAIEX increased by about 2.4 percent, and Australia’s ASX 200 went up by 1.8 percent. The Hang Seng Index in Hong Kong also rose more than 1 percent.

Brent crude oil prices dropped by around 1 percent to below $89.50 a barrel. This was linked to hopes for peace in the Strait of Hormuz, a key route for global oil supplies.

Trump stated that a deal to end the conflict could be signed soon, but Iran has not confirmed this yet. Experts believe for the market gains to last, a full agreement and reopening of the Strait of Hormuz are essential.

How much do you know?

What percentage did Wall Street’s S&P 500 index gain after Trump announced the cancellation of strikes against Iran?

1.5 percent

1.8 percent

2.0 percent

2.5 percent

Which Asian market recorded a jump over 8 percent?

Taiwan's TAIEX

Japan's Nikkei 225

South Korea's Kospi

Australia's ASX 200

What was the increase percentage of the Nasdaq Composite?

2.0 percent

2.2 percent

2.5 percent

3.0 percent

What is the key route for global oil supplies mentioned in the text?

Suez Canal

Strait of Hormuz

Panama Canal

Bering Strait

What percentage did Australia's ASX 200 increase?

1.5 percent

1.8 percent

2.0 percent

2.4 percent

What was the Brent crude oil price noted to drop below?

$85 a barrel

$88 a barrel

$89 a barrel

$90 a barrel

The Dow Jones Industrial Average increased by about 2.5 percent.

True False

Asian markets continued to decline after Trump's announcement.

True False

Trump hinted that a peace deal with Iran could be close.

True False

Brent crude oil prices increased after news of potential peace.

True False

Experts believe a full agreement is essential for market gains to last.

True False

All Asian markets mentioned recorded losses.

True False

Wall Street’s S&P 500 index gained nearly percent.

South Korea’s Kospi jumped over percent.

The Dow Jones Industrial Average increased by about percent.

Brent crude oil prices dropped to below $ a barrel.

Taiwan’s TAIEX increased by about percent.

Trump stated that a deal to end the conflict could be signed .

This question is required