Asian stock markets are up across the board after President Trump’s announcement of a cease-fire with Iran. Japan’s Nikkei Stock Average closed its Wednesday morning session up 5%, while South Korea’s Kospi index is up nearly 6% and the Hang Seng Index in Hong Kong is up 2.

Oil prices plunged Wednesday while stocks rallied after the United States and Iran agreed to a two-week ceasefire that will see Tehran temporarily reopen the vital Strait of Hormuz.

Oil prices plunged below $100 a barrel and Asia markets and U.S. stock futures jumped after the U.S. and Iran agreed to a two-week ceasefire that includes the reopening of the Strait of Hormuz

U.S. stock futures surged after President Trump posted on Truth Social that he would suspend attacks on Iran for two weeks.

Oil prices plunged and U.S. stock futures jumped after President Donald Trump held off on his threat of devastating attacks on Iran. U.S. crude oil futures fell more than 15%. Futures for the S&P 500 were up 2.

U.S. stock futures jumped and oil prices fell on Tuesday evening, after President Donald Trump announced a two-week-long cease-fire deal with Iran that would delay a planned American bombing assault on the country and make more time for negotiations between the two sides.

Oil tumbled and stock futures surged after President Trump announced a two-week ceasefire with Iran. It's yet another example of the president triggering a relief rally in markets by reversing course on an ultimatum.

Less than two hours before the 8 p.m. Eastern deadline he imposed, president Donald Trump announced in a post on Truth Social that he is holding off on his threat to destroy Iran’s “whole civilization” for two weeks.