Stocks leap worldwide, and oil prices drop after the US and Iran reach a tentative deal on their war

Stock markets worldwide and oil prices dropped after the US and Iran reached a tentative ceasefire deal to reopen the Strait of Hormuz. The S&P 500 rose 1.7%, the Dow gained 0.9%, and the Nasdaq jumped 3.1% as Brent crude fell 4.8% to $83.17. The agreement remains tentative on Iran's nuclear program, with negotiations continuing over 60 days.