The S&P 500 climbed 2.5% Wednesday as traders embraced the fragile ceasefire’s potential to curb oil prices and facilitate the resumption of trade through the Strait of Hormuz.
(April 9): The world’s 500 wealthiest people added US$265 billion ($337.94 billion) in wealth to their collective fortunes on Wednesday after stocks soared on optimism that a truce between the US and Iran would hold.
The surge marks the second-biggest daily gain in the history of the Bloomberg Billionaires Index, and comes almost exactly one year after the richest gained a record US$304 billion in a day following President Trump’s declaration of a 90-day pause on his planned “liberation day” tariffs.
