The US Stock Market soared Wednesday afternoon following the President Trump’s remarks on Iran, with investors expressing “sighs of relief” as tensions between the US and Iran appear to calm down.
“Stocks rose on Wednesday after President Donald Trump spoke about an attack by Iran at an Iraqi airbase that hosts American troops, which led to a massive sell-off in overnight trading,” reports CNBC. “The Dow Jones Industrial Average gained 213 points, or 0.8%. The Nasdaq Composite advanced 0.7% and hit an all-time high. The S&P 500 also climbed 0.7% and hit a record high as well.”
“Now, as the president has to some degree defused some of the anxiety, so you’re getting … a little bit of a sigh of relief rally here,” said Art Cashin, director of floor operations at the NYSE for UBS, on CNBC’s “Squawk Alley.”
This is a developing story. Check back for updates.