Stocks Drop, Oil Jumps After Trump Says Ceasefire with Iran Is "Over" | Bloomberg Brief 07/08/2026

US equity futures slump and oil extends gains as President Trump says a tentative ceasefire with Iran is over. The US had struck 80 sites in Iran ahead of the president's remarks at the NATO Summit in Ankara, Turkey. Mark McCormick of BMO Capital Markets discusses the impact of fresh geopolitical tensions. (Source: Bloomberg)