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U.S. stocks surged after news of a temporary ceasefire between the U.S. and Iran, with the Dow up 2.76%, S&P 500 up 2.64%, and Nasdaq up 3.5%. Tech and China stocks led the rally, reflecting a broader risk-on shift in the market. The rally was driven by hopes of de-escalation in the Middle East and boosted small caps and cryptocurrencies. This positive sentiment could quickly change if the ceasefire breaks down.
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