SpaceX IPO and US-Iran Peace Deal Spark Global Rally

Global stock markets reached record highs on June 12, 2026, fueled by the historic initial public offering of Space Exploration Technologies Corp. and optimism over a ceasefire between the United States and Iran. SpaceX shares debuted on the Nasdaq at $135 and surged over 19% to close around $161, bringing the company's valuation to approximately $2.1 trillion. The rally made founder Elon Musk the world's first trillionaire, though the company faces criticism over corporate governance and reported losses through early 2026.

Simultaneously, President Donald Trump canceled planned military strikes against Iran and signaled that a peace deal to reopen the Strait of Hormuz could be signed by June 19. This diplomatic shift, which included a memorandum of understanding for sanctions relief, caused Brent crude prices to drop as much as 4.8%. While Iranian Foreign Minister Abbas Araghchi stated an agreement was nearly reached, Trump described the Iranians as "very dishonourable people."

The combined impact pushed the Dow Jones Industrial Average up 353 points and triggered massive gains in international markets, particularly in South Korea's Kospi and Japan's Nikkei 225. The rally extended into the following trading days as investors anticipated steady interest rates from the Federal Reserve under new chair Kevin Warsh. While the maritime agreement was confirmed, a final resolution on Iran's nuclear program remains pending for negotiation over the next 60 days.