US stock market today: Wall Street rallies as US-Iran tensions ease; Nasdaq rises 1%

Wall Street rallied as US-Iran tensions eased, with the S&P 500 rising 0.8% after two consecutive weeks of losses.

The Dow Jones Industrial Average advanced 581 points, and the Nasdaq Composite gained 1%.

Oil prices tumbled: Brent crude fell 6.8% to $85.49 per barrel, and US benchmark crude declined 7% to $83.06 per barrel.

European markets rose: Germany's DAX gained 1.6%, France's CAC 40 added 0.8%, and Britain's FTSE 100 advanced 0.5%.

Asian markets mostly ended higher, with Japan's Nikkei 225 adding 0.5%, Hong Kong's Hang Seng gaining 1%, and China's Shanghai Composite advancing 1.2%.