S&P 500 and Nasdaq close day at new highs as oil prices tumble

Major Wall Street indices rocket to fresh records after Iran’s announcement reopening the Strait of Hormuz sent oil prices sharply lower.

The broad-based S&P 500 gained 1.2 percent to 7,126.07, while the tech-rich Nasdaq Composite Index jumped 1.5 percent to 24,468.48. Both end at records for the third straight day.

The Dow Jones Industrial Average advanced 1.8 percent to 49,447.92.

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