United States stock market futures fell sharply on Wednesday after President Donald Trump declared that the ceasefire with Iran was effectively over, raising fears of renewed conflict in the Middle East and triggering volatility across global financial markets.
Futures linked to the S&P 500 dropped by 1.0 per cent, while the Nasdaq 100 declined 1.5 per cent. Dow Jones futures also fell 1.3 per cent as investors reacted to the heightened geopolitical uncertainty.
Oil prices surged on concerns that renewed hostilities could disrupt global energy supplies, West Texas Intermediate (WTI) crude rose 5.0 per cent, while Brent crude gained 6.0 per cent. Gold prices, however, fell 2.5 per cent.
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Speaking on Wednesday in Ankara alongside Mark Rutte during the annual NATO summit, Donald Trump suggested that efforts to maintain the ceasefire had failed.
“For me, I think it’s over.
“As far as I’m concerned, it’s just a waste of time,” Trump said.
His comments cast fresh doubt on the future of peace negotiations between the United States and Iran and heightened concerns that military tensions could escalate again after a period of relative calm.
The latest remarks unsettled investors, who have closely monitored developments in the Middle East amid concerns that any renewed conflict could have far-reaching implications for global energy markets, inflation, and financial stability.
