Dow Jones Rises 900 Points, Oil Falls as Strait of Hormuz Is ‘Completely Open’

U.S. stocks staged a tremendous comeback over the past two weeks after slipping into a correction last month.

A person points at a page on the Marinetraffic website that shows commercial boat traffic on the edge of the Strait of Hormuz near the Iranian coast amid the ongoing war in the Middle East, in Paris on March 4, 2026. Julien De Rosa/AFP via Getty Images

U.S. stocks rose and crude oil prices fell after the United States and Iran declared the Strait of Hormuz “completely open” for commercial traffic during the ceasefire between Israel and Lebanon.

In an April 17 social media post, Iranian Foreign Minister Seyed Abbas Araghchi stated that the vital global choke point would stay open for the remainder of the ceasefire between Israel and Lebanon.