July 8, 2026, 4:48 PM EDT. Stocks slid Wednesday after Donald Trump said the US would end the ceasefire with Iran. The move came as tensions grew at the NATO summit. Brent crude jumped more than 5%, trading above $80 a barrel, and the Dow lost 1.09%. Minutes from the Fed showed officials worried about inflation at 4.2%, still over their 2% goal, and left the door open to another rate hike this year. The IMF cut its global growth forecast to 3%, blaming Middle East conflict and AI investment worries. Higher energy prices and more geopolitical risk are adding pressure for Fed Chair Kevin Warsh as he deals with policy calls under tough political conditions.
