Oil prices rise 8.0 per cent, and Dow drops 800 points after Trump says ceasefire with Iran is ‘over’

Oil prices are rising, and stock markets are dropping worldwide Wednesday after President Donald Trump raised doubts about the temporary truce in the war with Iran.The S&P 500 fell 1.0 per cent 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 was down 831 points, or 1.6 per cent, as of 11:45 a.m. Eastern time, and the Nasdaq composite was 1.0 per cent lower.