The Economic Times

Will US stock market rebound as Iran-Oman deal may ease Strait of Hormuz blockade fears after $750 billion wipeout hits Dow, S&P 500, Nasdaq today?

US stock Market Today erased early losses as major indexes bounced on news that Iran is drafting a protocol with Oman to reopen the Strait of Hormuz. The Dow dropped nearly 675 points before recovering to a 120-point decline, while Nasdaq and S&P 500 pared losses to 0.2%. Oil prices, which surged above $114 per barrel, eased slightly, calming energy-driven volatility. Airline and tech stocks fell, with Tesla down 3% after weaker-than-expected deliveries. Investors are closely watching global energy supply, inflation risks, and geopolitical tensions.