Oil Prices Spike as Trump Scraps Iran Deal

The abrupt policy reversal sent shockwaves through U.S. financial markets, pushing Nasdaq futures to a four-week low as investors pivoted toward safer assets. While the broader market faced downward pressure, energy stocks rallied in response to the sudden supply-side uncertainty.

Travel and technology sectors bore the brunt of the sell-off, with market participants increasingly anxious about the inflationary impact of rising energy costs. These concerns are compounded by ongoing uncertainty surrounding future Federal Reserve policy decisions, as traders weigh the geopolitical fallout against the broader economic outlook.