Oil prices dived, bonds rallied and stocks surged recently after a two-week ceasefire in the Middle East spurred a relief rally as investors cheered the possible resumption of oil and gas flowing through the Strait of Hormuz.
US President Donald Trump said he agreed to suspend bombing and attacks on Iran for two weeks and that a long-term peace agreement was in progress.
Global markets have been rattled since the US and Israel attacked Iran at the end of February, leading Tehran to effectively close the Strait of Hormuz, a key waterway used to transit one-fifth of the world's oil and gas.
US crude futures CLc1 fell around 16.5% to $94 a barrel, S&P 500 futures ESc1 leapt over 2% and the dollar fell broadly, having been the haven of choice for investors during the tumult.
