Global stocks hit records as oil prices fall on Iran deal
Global stocks reached records as oil prices fell on hopes for a US-Iran deal. Strong tech earnings and lower Treasury yields fueled a broad market rally on Wednesday.
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Stocks hit record highs on May 6 as a potential United States and Iran peace deal sent oil tumbling. West Texas Intermediate crude fell about 7%, to $95.08, while equities surged broadly. For investors, easing geopolitical risk and accelerating AI trades are fueling a rally across asset classes.