New Delhi, March 25 -- US stock indices jumped on Wednesday on prospects of de-escalation in the Middle East conflict after Washington proposed a peace plan to Iran.

As of 10:30 a.m. Eastern Time, the S&P 500 rose 0.8%, the Dow Jones Industrial Average was up 0.7%, and the Nasdaq Composite was 1.3% higher.

At the opening bell, the Dow Jones Industrial Average rose 190.2 points, or 0.41%, to 46,314.24. The S&P 500 rose 42.0 points, or 0.64%, to 6,598.35, while the Nasdaq Composite rose 244.5 points, or 1.12%, to 22,006.428.

According to media reports, the United States has delivered a 15-point peace proposal to Iran through Pakistani intermediaries. However, Iranian officials have publicly rejected the idea of talks.

"Right now the big...