Global stocks surge and oil slides on Iran peace deal report
u/app1310 ·
Reddit — r/stocks
· May 06, 2026 at 11:14
· ⬆ 22 pts
· 💬 35 comments
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Stocks leapt and oil prices dropped on Wednesday after a report said the White House believed it was closing in on a memorandum to end the war with Iran, while momentum in AI-driven trades accelerated.
The report by news outlet Axios said the U.S. expected Iranian responses on several key points in the next 48 hours. A Pakistani source involved in the peace efforts confirmed the report to Reuters on Wednesday.
Brent Crude, the global benchmark, dropped 7.5% to $101.70 per barrel.
[https://www.reuters.com/world/china/global-markets-wrapup-1-2026-05-06/](https://www.reuters.com/world/china/global-markets-wrapup-1-2026-05-06/)