US stock markets fall amid Iran strikes and potential higher interest rates

Dow down 1.09%, or 500 points, as S&P 500 sees a small loss and tech-heavy Nasdaq rises slightly

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US stock markets fell on Wednesday as Donald Trump declared the ceasefire with Iran was over and the Federal Reserve flagged concerns that would warrant higher interest rates.

Trump’s comments on the Iran-US war at the Nato summit in Ankara sent oil prices sharply higher. Brent crude, the global benchmark, jumped more than 5% to crest $80 a barrel. US stocks fell in step, with the Dow down 1.09%, or 500 points, at closing Wednesday afternoon. The S&P 500 saw a small loss while the tech-heavy Nasdaq rose slightly. Global stocks had fallen earlier in the day, with the UK’s FTSE 100 down 1% as Japan’s Nikkei fell 2.1%.
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