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Markets Decline and Oil Surges After Trump Announces End of Iran Deal
The escalating tensions between the United States and Iran led to a decline in global stock indices, amid military movements from both sides and a significant rise in oil prices, with Brent contracts reaching $78.1 per barrel and West Texas Intermediate reaching $74.15. This affected American, European, and Asian markets, where stocks fell sharply and fears increased of a potential escalation of the conflict in the Strait of Hormuz.
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