Dow hits intraday record as U.S.-Iran preliminary deal sends oil down about 5%

The United States and Iran reached a preliminary agreement aimed at ending their conflict, easing geopolitical tensions. Crude oil fell about 5% to its lowest level since March. The Dow Jones Industrial Average set an intraday record as technology shares led gains and risk appetite improved. The tentative deal did not address Iran’s nuclear program or tensions between Israel and Lebanon.