Brent Briefly Tops $80 as Trump Ceasefire Warning Hits Stocks and Bonds
Updated
Updated · Bloomberg · Jul 11
Brent Briefly Tops $80 as Trump Ceasefire Warning Hits Stocks and Bonds
3 articles · Updated · Bloomberg · Jul 11
Summary
Brent crude briefly rose above $80 a barrel after Donald Trump said a ceasefire with Iran may be over, reviving fears of a return to full-scale conflict in the Persian Gulf.
Almost 400 S&P 500 stocks fell and bonds also dropped as the oil spike reignited inflation concerns, though the index later trimmed losses after Trump said he does not think the conflict will restart.
Money markets increased bets that the Federal Reserve will raise interest rates by October, while Bitcoin fell and chipmakers bucked the broader sell-off.
The move underscored how quickly renewed Gulf hostilities can disrupt energy-trading expectations and ripple across risk assets worldwide.