Global equity markets surged on Wednesday, April 1, 2026, fueled by renewed optimism for a swift end to the U.S.-Iran conflict. The rally was ignited by comments from former U.S. President Donald Trump, who stated the U.S. would leave Iran within "two to three weeks," and from Iranian President Masoud Pezeshkian, who expressed Tehran's readiness to end hostilities.
This geopolitical shift triggered a powerful rebound across major indices. The Dow Jones Industrial Average jumped 322 points (0.7%), the S&P 500 rose 0.76%, and the Nasdaq 100 gained nearly 1%. In Asia, South Korea's KOSPI index soared 8.4% to 5,478.70, recovering from a steep 19% drop in March. The CBOE Volatility Index (VIX) fell to a more than one-week low, indicating a significant easing of investor anxiety.
The rally provided a crucial lifeline to major chipmakers Samsung Electronics and SK Hynix, which had been battered in March. Samsung shares climbed 13% to 189,600 won, while SK Hynix gained around 11% to 893,000 won. This rebound followed a brutal month where both stocks lost 23-24% due to war-related fears over supply chain disruptions and rising production costs, compounded by concerns over long-term AI memory demand.
Analysts pointed to specific pressures on the sector, including Google's unveiling of an algorithm that could reduce AI memory requirements and speculation about falling memory chip prices following spending cuts at OpenAI, which included shutting down its Sora video model. These factors had overshadowed a key 2025 deal where OpenAI agreed to source 900,000 DRAM wafers from Samsung and SK Hynix.
Kiwoom Securities analyst Han Ji-young attributed the rebound to bargain-hunting, noting, "The stock market is highly likely to enter a recovery phase rather than experience further decline."
The improved sentiment also impacted commodity markets. Oil prices retreated, with West Texas Intermediate futures declining about 1% to just above $100 per barrel, as hopes grew that shipping through the critical Strait of Hormuz could resume. Despite the day's gains, major U.S. indices still recorded their steepest monthly declines in a year, highlighting the fragility of the recovery.
