Sweden Herald
US stock market recovers after
Photo: Matt Rourke /AP/TT
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US stock market recovers after Iran announcement on Strait of Hormuz

The U.S. stock market fell in early trading on Maundy Thursday as oil futures surged. By the close, however, major stock indexes had recovered after Iran said it and Oman were in the process of reaching an agreement on the Strait of Hormuz.

The broad S&P 500 index closed up 0.1 percent, the Dow Jones Industrial Average closed down 0.1 percent, and the tech-heavy Nasdaq Composite closed up 0.2 percent.

The oil price increases followed President Donald Trump's announcement on the night of Maundy Thursday that Iran would be bombed "back to the Stone Age."

U.S. WTI oil has risen 11.5 percent during the day, now trading at $111.60 per barrel. North Sea oil has risen 7.5 percent to $108.60 per barrel.

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USADonald Trump
AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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