Tension in Global Markets; New US Attacks and End of Ceasefire with Iran

Escalation of Military Clashes in the Strait of Hormuz In the early hours of today, July 8, 2026, global financial markets were affected by concerning news from the Middle East. The United States Central Command (CENTCOM) announced that in response to attacks on commercial vessels, it targeted more than 80 objectives belonging to Iranian forces near the Strait of Hormuz [3]. These attacks included air defense systems, command networks, and fast boats. In contrast, reports indicate retaliatory attacks on US military bases in Kuwait and Bahrain, raising the regional security alert to a "critical" status [4].

Energy Market Reaction and Oil Price Jump The oil market showed the fastest reaction to these developments. Brent crude prices jumped 5.5% to near $79 per barrel [2]. The US government's cancellation of Iranian oil waivers and threats regarding the closure of the Strait of Hormuz have doubled concerns about energy supply security. Analysts believe the continuation of this situation could reignite global inflation, which had recently stabilized [1]. Simultaneously, gold prices faced severe fluctuations and lost part of their value due to expectations of interest rate hikes by the Federal Reserve in response to potential inflation [3].

Stock Index Crash and Pressure on the Technology Sector Stock markets in New York and Europe began their day with a decline. The Nasdaq index fell more than 1.8% due to the decline in semiconductor company shares and concerns over rising production costs caused by the energy crisis [1]. In addition to military tensions, competition from Chinese AI chips with American companies has added to the selling pressure on Wall Street [3]. Investors are now waiting with great caution for the release of the minutes from the recent Federal Reserve meeting to predict the next path of monetary policy in these crisis conditions [2].

Trump's Harsh Stance at the NATO Summit These developments occur while US President Donald Trump is in Ankara to attend the NATO summit. In a sharp statement, he declared that previous agreements with Iran "are over" and that Washington is no longer willing to continue negotiations under current conditions [4]. These explicit remarks have dimmed hopes for short-term diplomacy and caused global markets to prepare for a long period of geopolitical instability [1].