CNN —
Oil sold off sharply and stocks rallied after Iran fired missiles toward US bases in Qatar and Iraq that appeared to be intercepted.
Traders are betting that Iran doesn’t have the willingness or capability to retaliate against US forces. And they’re hoping that this will be the extent of the Iranian response.
US stock market investors are also breathing a huge sigh of relief. A sustained spike in oil prices would damage the US economy, raising costs for consumers and businesses.
Falling oil prices lifted US stocks. US crude
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