During a NATO summit in Turkey, U.S. President Donald Trump said he believes the ceasefire with Iran has ended, calling further negotiations a misuse of time. He stated he does not wish to engage with Iran, which he described as dishonest, though he indicated he would permit American negotiators to continue talks if they chose. His remarks followed the U.S. revocation of an oil-export waiver for Iran and American military strikes on over 80 Iranian targets in response to attacks on vessels near the Strait of Hormuz. Iran’s Islamic Revolutionary Guard Corps claimed it struck 85 U.S. military installations in retaliation. Global markets reacted sharply: crude oil prices rose more than 5%, stock futures fell, and bond yields climbed as investors reassessed geopolitical risks.