Nasdaq Gains 2.82% as Qatar-Pakistan Plan Revives U.S.-Iran Talks

A proposed framework from Qatar and Pakistan has revived substantive U.S.-Iran nuclear talks, coinciding Tuesday with a more than $1.50 decline in oil and gains across major U.S. stock indexes.

The Nasdaq was up 2.82% intraday, while the Nasdaq 100 climbed 3.4%. The S&P 500 rose 2.47% and the Dow Jones Industrial Average gained 2.36%. Gold and silver also posted brief rallies as crude prices fell.

Under the proposed framework, the Strait of Hormuz would reopen immediately and a naval blockade would be lifted. The plan also calls for Washington to release $6 billion to $9 billion in Iranian assets after an agreement is reached. A preliminary agreement on Iran's uranium enrichment is among the expected terms.

The plan links nuclear negotiations with maritime access and a release of Iranian assets, while the market reaction spanned energy, metals and stocks.