Trump announces 2-week pause on Iran military action, markets surge
Business
Wall Street futures shot up on Tuesday after President Trump announced a two-week pause on military action against Iran, as long as Iran reopens the Strait of Hormuz.
The Dow soared 700 points, and S&P 500 and Nasdaq futures also climbed.
This move followed calls for calm from Pakistan's leaders.
US stocks up, oil under $110
The S&P 500 and Nasdaq all finished higher in regular trading too.
Oil prices dropped sharply (US crude fell below $110 per barrel) and the US dollar index slipped slightly.
Gold and silver saw small gains as markets showed cautious optimism about the temporary truce.