Wall Street Opens Lower After Trump Ends Iran Ceasefire, Calls Country 'Trash'

Wall Street stocks opened in negative territory on Wednesday, July 8, 2026, as the Dow Jones Industrial Average fell 0.84%. The market's downturn was triggered by U.S. President Donald Trump's declaration ending the ceasefire with Iran. Trump also harshly criticized Iran, labeling it "trash" and a "sick" nation driven by "evil, violent people."

Speaking in Ankara, Turkey, during a NATO leaders' summit, Trump stated, "For me, it's over. I don't want to negotiate with them, because they are trash. They are sick people, led by sick, evil, violent people. If they had a nuclear weapon, they would use it."

The president's remarks aim to dismantle a one-month ceasefire that had helped reopen the Strait of Hormuz, a vital shipping lane previously disrupted by hostilities between the U.S. and Iran. The announcement comes after recent exchanges of aggression between the two nations.

Despite the broader market decline, some sectors saw gains. Energy company stocks experienced slight increases, with ConocoPhillips up 0.81%, Marathon Petroleum gaining 2.77%, and Chevron advancing 0.86%. Technology stocks also showed mixed performance; Dell rose 4.44% and Micron gained 1.73%. SpaceX recovered from previous losses, trading up 0.8%. However, Palantir, a defense software specialist and U.S. government partner, saw its stock drop by 5.31%. In commodity markets, West Texas Intermediate (WTI) crude oil surged 4.78% to $73.81 per barrel. Gold prices increased by 1.77% to $4,083.7 per ounce, while silver prices fell 4.01% to $58.87 per ounce.