Unity emerges from news of possible US-Iran ceasefire Fallout: US and Iranian market impact Massive $88 billion gain on Aussie share market today The ASX 200 surged, up 2.4 per cent, after global oil prices suffered their biggest one-day slump in history of almost eight per cent, which soothed fears of an extended energy crisis. Banking and retail sectors drove the relief rally, after the prospect of peace alleviated fears of inflation and recession. This article explains why the market shot higher, and what the diplomatic breakthrough means for Australian shareholders