The U.S. stock market is stabilising after two days of intense swings due to concerns about high oil prices due to the Iran war. The S&P 500 rose 0.4% in early trading, the Dow Jones Industrial Average rose 197 points, and the Nasdaq composite added 0.7%. South Korea's Kospi stock index fell 12.1% earlier, marking its worst day in history. However, crude oil prices eased as the day progressed, with the price for a barrel of Brent crude dropping 0.6%. The price for U.N. benchmark crude oil fell slightly to $73.94 per barrel early Wednesday. President Donald Trump announced that the U.K. may escort tankers through the Strait of Hormuz, where about a fifth of the world’s oil passes. The increased insurance costs filtering through to shipping would cost an extra $5 to $15 a barrel, Mizuho Bank said. The war, which Trump has suggested could last a month or longer, has negatively impacted global markets, unsettling investors who fear further spikes for oil prices may impact the global economy and corporate profits.