Oil Crashes, Stocks Soar After Iran's Surprisingly Mild Response to US Strikes!

2025-06-24 12:00:43.458

Following US airstrikes on Iranian targets, initial concerns sent oil prices surging 6%. However, these gains quickly evaporated as Iran's response, a missile attack on a US airbase in Qatar, did not significantly impact oil flow. The price of oil dropped 7.2% to settle at $68.51, nearly returning to pre-conflict levels. This sparked a rally in US stocks, with the S&P 500 climbing 1%, the Dow Jones Industrial Average adding 0.9%, and the Nasdaq composite gaining 0.9%. Analysts attributed the market's positive reaction to Iran's apparent lack of interest in disrupting oil supplies, a move that would harm its own economy. While some experts remain cautious about Iran's future actions, the absence of a major oil supply disruption eased market fears. Tesla's stock performance also significantly boosted the S&P 500, rising 8.2% after commencing self-driving taxi tests. Conversely, Hims & Hers Health plummeted 34.6% following Novo Nordisk's decision to end their partnership. European markets saw mixed results, while the bond market showed easing yields after a Fed governor signaled potential rate cuts.