What immediate market impacts followed Trump's declaration that the Iran MOU was 'over'?

Oil prices surged 5% to $78 a barrel, European stocks (.STOXX) dropped 1.1%, the dollar jumped, government bond yields rose, and U.S. stocks were modestly lower—with the Nasdaq (.IXIC) down 0.4%.

According to Anjeka Gupta of WisdomTree, what key policy change materially altered market expectations after Trump’s announcement?

The Iranian oil waiver was removed, eliminating a critical incentive for Iranian compliance and introducing a new risk premium into markets.

Oil Prices Surge, Markets Retreat After Trump Declares Iran MOU Over

Jul 8, 2026

Oil prices surged 5% to $78 per barrel after President Trump ended the Iran ceasefire framework, triggering global market declines and heightened inflation risks due to potential supply disruptions.

reuters

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