Most equities extended a global rally Wednesday after Iran and Israel agreed to a ceasefire that ended more than a week of hostilities, while the dollar struggled to recover from a sharp drop stoked by bets on a US interest rate cut. “The market staged a full-throttle risk-on revival, launching global equities into the stratosphere as oil prices cratered and rate-cut bets gained momentum,” said SPI Asset Management’s Stephen Innes.
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