Oil prices rise 5%, and stocks drop worldwide after Trump says ceasefire with Iran is 'over'

Oil prices rose 5% and global stock markets fell after President Trump stated the ceasefire with Iran is 'over,' raising concerns about renewed conflict and its economic impact. The S&P 500 dropped 0.3%, the Dow fell 1%, and Brent crude climbed to $78.02 amid fears of blocked oil shipments through the Strait of Hormuz.