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World shares rally after Trump announces what appears to be a shaky Israeli-Iran ceasefire

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Stock markets have rallied and oil prices fell after U.S. President Donald Trump announced what appears to be a shaky ceasefire in the Israel-Iran conflict. Oil prices declined on hopes that the potential threat to the global flow of crude may have abated, even after the U.S. carried out strikes on Iranian nuclear sites. A barrel of benchmark U.S. oil dropped about 3% early Tuesday and more than 7% on Monday after briefly topping $78 Sunday night. On Monday, the S&P 500 rose 1%, the Dow Jones Industrial Average added 0.9% and the Nasdaq composite also gained 0.9%. Treasury yields fell.