Breaking news can be summarized in one sentence:

Conflict has been temporarily paused, and market sentiment has significantly cooled down.

The U.S. has officially stated that this round of military actions against Iran has ended for now, with the main objectives basically achieved; at the same time, Trump announced a temporary halt to the related Strait of Hormuz operations.

This adjustment actually sends two signals:
On one hand, it is a response to international pressure,
On the other hand, it is starting to make way for negotiations after "throwing a punch."

The current situation is—
The blockade is still in place, but large-scale actions are temporarily halted,
Both sides are in a wait-and-see and bargaining phase, waiting for the final agreement to be implemented.

What does this mean for the market?
Very simple:
The most tense period is over.

The risk-averse sentiment caused by the war,
is rapidly cooling down,
and the corresponding safe-haven rally will also decline accordingly.

Risks haven't completely disappeared, but the most panic-stricken phase has passed, and sentiment is receding.