US stocks close with sharp increases after Trump cancels attacks on Iran
Dow Jones up 1.86%, S&P 500 1.75%, Nasdaq 2.54%; European indexes end day in positive side
Following US President Donald Trump's announcement to cancel planned attacks on Iran, US stock markets closed the dat with sharp increases.
The Dow rose 1.86%, or 929.97 points, to finish at 50,848.75.
The S&P 500 gained 1.75%, or 127.31 points, to close at 7,394.30, while the Nasdaq soared 2.54%, or 640.16 points, to 25,809.66.
The Volatility Index (VIX), often referred to as the market’s “fear index,” fell 12.42% to 19.46.
Trump said on US based social media platform Truth: “Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening.”
Previously, Trump said the US "will be hitting Iran ... very hard tonight" for Thursday, adding that he plans to seize control of Iran's primary oil export facility at Kharg Island.
While energy prices decreased after the announcement, Brent futures dropped by around 4.6% to $88.8 per barrel as of 2030GMT.
Precious metal prices, decreased on Wednesday with concerns related to Iran war, recovered; Gold price per ounce increased by 3.5% to $4,214 while silver gained 6.2% to $67.4.
European markets
European stocks saw positive figures, with the pan-European Stoxx Europe 600 index was up 0.54% to close at 621.53 points.
In national markets, the UK's FTSE 100 posted an increase, up by 0.48% to 10,303.88, and Germany's DAX 40 rose slightly 0.06% to 24,209.71 points.
France's CAC 40 increased 0.48% to 8,200.80, Italy's FTSE MIB 30 went up 0.95% to 50,504.74 and Spain's IBEX 35 was up 0.81% to end at 18,290.10.
