Trump ends Iran ceasefire from Ankara; markets tumble as oil jumps past $80

President Trump declared the Iran-US ceasefire "over" at the NATO summit in Ankara on July 8, 2026, triggering a global equity rout. The Dow fell 1.09%, London's FTSE dropped 1%, and Tokyo's Nikkei slid 2.1%. Brent crude surged 5% above $80 a barrel as traders priced renewed risk to Gulf shipping. The shock compounded an already-tight energy market after Russia imposed a diesel export ban, with US diesel futures spiking 13% on the day.