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

Oil prices rose and stocks fell worldwide on Wednesday after President Donald Trump cast doubt on the status of a ceasefire with Iran, saying the agreement was “over” while allowing negotiations to continue. On Wall Street, the S&P 500 dropped 0.5%, the Dow Jones Industrial Average fell 550 points (about 1%), and the Nasdaq composite was down 0.2% as of 10 a.m. Eastern. Energy was the sharpest move: Brent crude rose 4.8% to $77.74, briefly topping $79, still well below an earlier-war peak near $120. The article links the jump to concerns that renewed conflict could block the Strait of Hormuz, disrupting oil tanker routes through the Persian Gulf and worsening inflation. European markets turned lower, and companies with large fuel costs—including American Airlines and Norwegian Cruise Line Holdings—declined, alongside homebuilders pressured by higher Treasury yields.