Trump Declares Iran Ceasefire Over on July 8; Brent Crude Surges 6.3%, SK Hynix Falls 9%

According to Korean Economic TV, President Trump declared on July 8 that the U.S. ceasefire memorandum with Iran has ended, stating he no longer wishes to engage with Iran. The announcement came during a NATO summit in Ankara and triggered an immediate global market selloff amid escalating Middle East tensions.

Brent crude jumped 6.3% to $78.80 per barrel, while WTI crude rose 6.4% to $75, marking the highest levels since June 22. U.S. stock index futures fell 1.1%-1.3%, and South Korean semiconductor stocks dropped sharply in after-hours trading: Samsung Electronics fell 10.64% to 264,500 won, while SK Hynix declined nearly 9%, closing below 2 million won for the first time since June 11.