Markets fall, oil surges after Trump says Iran deal over

On July 8, 2026, U.S. President Donald Trump declared that the Iran ceasefire agreement is over, triggering sharp reactions in global financial markets. The S&P 500 ended lower, while oil prices surged back to $80 per barrel. Stocks and bonds also retreated, and the dollar turned higher. Indian shares faced their worst fall in two months as a result of the announcement.