US futures sink after Trump says Iran ceasefire is over
US stock index futures dropped 1-1.5% while crude oil surged over 5% after President Trump announced the end of the ceasefire with Iran.
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President Trump stated that the ceasefire agreement with Iran has ended, prompting a sharp risk-off move in markets.
S&P 500 futures fell 1.0%, Nasdaq 100 futures dropped 1.5%, and Dow Jones futures declined 1.3%. In commodities, WTI crude jumped 5.0% and Brent crude rose 6.0%, while gold fell 2.5%.
The so-called 'Memorandum of Understanding' appears to have been abandoned, escalating geopolitical tensions.
Source: The Kobeissi Letter