Trump Declares Iran Ceasefire Over, Oil Surges and Markets Plunge

President Donald Trump declared the 60-day ceasefire with Iran “over,” sparking a sharp selloff in global stock markets and a surge in oil prices above $80 per barrel. The announcement followed overnight US strikes on over 80 Iranian targets in response to Iranian attacks on commercial vessels in the Strait of Hormuz. Source: El Mundo Source: Infobae

Market Reaction

Global equities tumbled as investors priced in renewed geopolitical risk. The Ibex 35 fell 2.73%, its worst session since the war began, while the Dow Jones lost 1.15%. European bourses dropped 1.5-2.5%, with Germany's DAX down 2.35% and France's CAC 40 off 2.18%. In Asia, South Korea's Kospi plummeted 5.35%, though Hong Kong's Hang Seng gained 2.99%. Source: La República Source: El Español

• Oil prices – Brent crude jumped more than 7% to $80.32, and WTI rose 7.72% to $75.86, as the Strait of Hormuz shipping lane became perilous again. Source: Infobae
• Safe havens – The VIX “fear index” rose 5%, while gold showed little safe-haven appeal. US Treasury yields climbed on inflation fears, with the probability of a Fed rate hike in July rising to 34%. Source: El País

Fallout for Spain

Trump singled out Spain at the NATO summit in Ankara, threatening to cut all trade with the country for refusing to raise defense spending to 5% of GDP. The Ibex was the hardest-hit European index, dragging the banking sector down. Source: Infobae Source: El Mundo

Analysts warn that renewed conflict could push oil even higher and complicate central bank policy, with the IMF citing the Middle East as the main downside risk to global growth. Source: Emol