New Delhi, April 1 -- Global markets on Wednesday reflected both hopes for an end to the U.S. war with Iran and caution with respect to the uncertainties that still linger over the month-long conflict as investors regroup into the first day of the second quarter.

U.S. stocks ended March on a massive upswing, with the S&P 500 booking its best single-day advance since May, following comments from President Donald Trump, as well as overtures from officials in Tehran, that suggested the war could come to an end over the next few weeks.

Major indexes around the world responded in kind, with Europe's Stoxx 600 on the way to its best gain in more than a year and Japan's Nikkei 225 surging more than 5% for its biggest single-day rebound since A...