Trump Declares Iran Ceasefire Over, Oil Surges 5% as U.S. Stock Market Closes Mixed on July 8

According to E Daily, on July 8, U.S. President Donald Trump declared the ceasefire with Iran effectively over and suggested additional military strikes during a NATO summit in Ankara. Trump stated, "The ceasefire is over, I think," and added, "We hit them very hard last night, and we will probably hit them hard again tonight," signaling further military action. The comments followed a U.S. airstrike in the Strait of Hormuz in retaliation for attacks on three commercial vessels and the U.S. revocation of sanctions exemptions on Iranian oil sales.

International oil prices surged sharply on the heightened Middle East tensions. Brent crude reached $78.19 per barrel, up 5.43%, while U.S. West Texas Intermediate climbed 4.37% to $73.52 per barrel. The spike triggered inflation concerns and fueled expectations for additional Federal Reserve rate hikes by October. On Wall Street, the Dow Jones fell 1.09% to 52,348.39, and the S&P 500 declined 0.28% to 7,482.71, while the Nasdaq gained 0.2% to 25,870.65 as semiconductor stocks rebounded.