Trump scraps Iran deal in Ankara; oil spikes and stocks slide globally

President Trump declared the Iran-US ceasefire ended at NATO talks on July 8, 2026. Global equities fell sharply—the Dow dropped 1.09%, London's FTSE 1%, Tokyo's Nikkei 2.1%. Brent crude surged 5% past $80 a barrel as traders factored in Gulf shipping risks. A Russian diesel export ban had already tightened energy supplies; US diesel futures jumped 13%.