The de-escalation has sparked hopes for regional stability, driving significant gains across major stock indices and triggering a notable drop in oil prices.

In the United States, markets responded positively to the ceasefire news. The S&P 500 advanced by 1%, the Nasdaq gained 0.9%, and the Dow Jones Industrial Average rose by 0.89%.

Market analysts attributed the rally to optimism over reduced geopolitical tensions and the potential for steady economic recovery.

Asian markets mirrored this upbeat sentiment. Hong Kong’s Hang Seng Index surged 2%, China’s Shanghai Composite gained 1%, Japan’s Nikkei 225 rose by 1%, and Indonesia’s IDX Composite Index climbed 1.6%, signaling widespread investor relief.

Meanwhile, global crude oil prices tumbled amid easing fears of supply disruptions. US crude dropped by $2 to settle at $66.48 per barrel, while Brent crude declined nearly 3%, reaching $69.48 per barrel.

Experts say the ceasefire has not only stabilized markets but also allayed concerns over oil supply interruptions.

If the truce holds, economists predict further gains in global markets and a more favorable outlook for the world economy in the near term.