Video | Markets Spike, Oil Drops Sharply On Opening Of Strait Of Hormuz
Global markets surged while oil prices tumbled after Iran announced the reopening of the Strait of Hormuz for commercial shipping. The S&P 500 hit a record high, with the Dow Jones Industrial Average and Nasdaq Composite also posting strong gains as easing supply concerns boosted investor sentiment. Crude prices fell sharply, with U.S. oil dropping…