US markets fall and oil prices jump after Trump says ceasefire with Iran is 'over'

NEW YORK (AP) — Oil prices are rising, and stock markets are falling worldwide after President Donald Trump raised doubts about the temporary truce in the war with Iran. The S&P 500 fell 0.6% early Wednesday after Trump said the agreement to pause fighting was “over,” though he added that he would allow negotiations to continue. The Dow Jones Industrial Average lost 545 points, or 1%, and the Nasdaq composite was down 0.3%. The action was stronger in the oil market, where the price for a barrel of Brent crude climbed 5.2% to $77.97 after briefly topping $79 earlier. Treasury yields ticked higher.