Oil prices rise, and stocks fall worldwide after Trump says ceasefire with Iran is 'over' | HITS 99.9FM

Oil prices moved higher and global stock markets slid Wednesday after President Donald Trump said the ceasefire with Iran is “over,” raising uncertainty about negotiations. The S&P 500 fell 0.6%, the Dow Jones Industrial Average dropped 535 points (about 1%) and the Nasdaq composite was 0.4% lower as of 9:35 a.m. Eastern time. Brent crude gained 5.3% to $78.12 per barrel, briefly topping $79, after having eased back toward pre-war levels. The concern is that renewed conflict could disrupt oil flows by affecting the Strait of Hormuz, worsening inflation and potentially pushing the Federal Reserve and other central banks toward higher interest rates. In corporate trading, United Airlines fell 3.4% and Norwegian Cruise Line Holdings slid 2.1%.