Stocks rise sharply, oil and dollar slip on Middle East peace hopes

Stocks surged on Monday while the US dollar ​and oil prices slid as the prospect of a deal to end the Iran war buoyed risk appetite although a lack of clarity ‌over when the Strait of Hormuz would open kept enthusiasm in check. The nearly three-month-long conflict in the Middle East has driven energy prices sharply higher and reshaped the global rates outlook, as inflation concerns intensify following Tehran’s effective shutdown of the key strait through which a significant share of the world’s energy flows. US President Donald Trump said on Sunday he had told ​his representatives not to rush into any deal with Iran, as his administration played down hopes of an imminent breakthrough.