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US stocks: Oil jumps nearly 5%, shares tumble as Trump declares Iran ceasefire 'over'

Global stock markets declined and oil prices surged on Wednesday. US President Donald Trump cast doubt on the temporary Iran conflict truce. This raised fears that renewed fighting could disrupt global energy supplies. Wall Street opened lower after Trump suggested the ceasefire was effectively over. Investors are concerned that renewed hostilities could disrupt shipping through the Strait of Hormuz.

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