Stocks Drop, Oil Jumps After Trump Says Ceasefire with Iran Is "Over" | Bloomberg Brief 07/08/2026

US equity futures slump and oil extends gains as President Trump says a tentative ceasefire with Iran is over. The US had struck 80 sites in Iran ahead of the president's remarks at the NATO Summit in Ankara, Turkey. Mark McCormick of BMO Capital Markets discusses the impact of fresh geopolitical tensions.

00:00:00 Bloomberg Brief Begins
00:00:39 Opening Headlines: Trump says Iran cease-fire is over
00:02:15 Asian markets slide as Korea enters a bear market
00:03:32 European markets, bonds and Le Pen reaction
00:05:38 NATO leaders face renewed Middle East tensions
00:09:39 Iran's overnight retaliation and Strait of Hormuz risks
00:13:40 Top Stories Trending on Terminal
00:15:01 AI trade rotation: Investors shift from Korea to China
00:17:36 Front Page News: Manhattan tower, Le Pen & UniCredit
00:23:02 First Look Movers: Alibaba, Micron, SanDisk & Navitas
00:24:09 Mark McCormick, BMO Capital Markets Chief FX Strategist
00;33;35 Trump Interview & political implications, Obamacare premiums
00:39:29 AI Rotation Continues: Alibaba and China Tech
00:42:29 What to Watch: FOMC Minutes, Trump & Markets