US equities surged on Wednesday, buoyed by optimism surrounding a potential de-escalation of the US-Iran conflict. The Nasdaq Composite reached a new all-time high of 24,016.02, closing up 1.59%, while the S&P 500 also marked a record, finishing at 7,022.95 with a 0.8% gain. This rally was largely driven by a 2.08% increase in tech stocks, reflecting strong investor sentiment.
In the crypto market, Bitcoin soared to $75,229, marking a 1.07% increase in the past 24 hours and nearly 10% over the last two weeks. The positive momentum in both equities and cryptocurrencies is linked to comments from President Trump suggesting that the US-Iran conflict may soon conclude, which has encouraged risk-taking among investors. Fundstrat’s Tom Lee noted that while the market has performed well amid geopolitical tensions, there remains potential for further growth, particularly in tech and crypto assets.
Market professionals should monitor the interplay between geopolitical developments and asset performance, as a resolution in the Middle East could catalyze further bullish trends in both equities and cryptocurrencies.
Source: cointelegraph.com