NEW YORK, July 8 (Reuters) - The S&P 500 and the Dow

followed their global counterparts lower on Wednesday, and crude

prices surged as U.S. President Donald Trump declared the

interim accord to end the war on Iran "over" following a series

of tit-for-tat airstrikes.

I will go into more detail on today's market moves below. If

you have more time to read, here are a few articles I recommend

to help you make sense of what happened in markets today.

1. U.S. President Donald Trump says ceasefire with Iran is

"over," warns of fresh attacks

2. Crude prices surged on Trump's remarks, touching a

two-week high and extending Tuesday's spike

3. China is planning to let top AI companies buy a limited

amount of Nvidia's ( NVDA ) H200 chips, according to a report from the

Information

4. But Chinese authorities are considering limiting top tech

firms' access to China's most advanced AI models

5. The International Monetary Fund lowered its 2026 global

growth forecast to 3.0%, on Middle East, trade risks; expects

rebound in 2027

Today's Key Market Moves

* STOCKS: The S&P 500 and the Dow end red but tech pushes

the Nasdaq to a modest gain; Europe's STOXX 600 posts steepest

one-day drop since March

* SECTORS/SHARES:

* FX: Dollar eases from one-week high as Iran deal falters

* BONDS: U.S. Treasury yields spike, paring slightly after

Fed minutes

* COMMODITIES/METALS: Front-month WTI and Brent crude prices

settle up 4.4% and 5.2%, respectively; gold drifts lower

Today's Talking Points

* Fed policymakers saw inflation concerns mounting at June

meeting, minutes show.

Worries about heightened inflation were expressed at the

U.S. central bank's monetary policy meeting last month, with a

few participants seeing a case for near-term rate hikes amid a

broader, evenly divided debate.

Minutes from that meeting, released on Wednesday, showed

"most participants" seeing scenarios in which inflation would

cool down of its own accord, and also "most" seeing situations

where it would remain high enough to warrant an eventual rate

hike.

* Trump hypes "unity" at NATO summit after attacking allies

Trump caused havoc at the NATO summit, demanding that the

United States cut trade ties with Spain and reviving his claims

on Greenland, before changing tack, saying there had been love

and "a lot of unity" at the summit. He also called Madrid a

"terrible partner" and railed against allies for not supporting

the war on Iran.

* Trump ramps up warnings about the dangers of communism

The U.S. president has sharply escalated his anti-communist

rhetoric over the past two weeks as his team tests whether the

message resonates ahead of November's midterm elections.

A Reuters analysis of public comments and social media posts

shows Trump's use of the term accelerated after a string of

left-wing Democrats won primary contests in New York.

* Russia tries to jam Elon Musk's Starlink systems to counter

Ukrainian drones

Russian forces are attempting to counter Ukrainian

"mid-strike" drone attacks, which can hit targets dozens of

kilometers behind front lines accurately and cheaply, by

camouflaging cargoes and installing powerful jamming systems to

disrupt the Starlink satellite internet systems, Ukrainian drone

commanders and pilots told Reuters.

What could move markets tomorrow?

* Developments in the Middle East

* Energy market moves

* Social media posts from Trump

* U.S. weekly jobless claims

* U.S. existing home sales

* Germany trade balance (May)

* Sweden house prices (June)

* Norway PPI (June)

* Norway manufacturing output (May)

* Denmark trade balance (May)

* Czech Republic unemployment rate (June)

* Greece CPI (June)

* Ireland CPI (June)

* Mexico CPI, PPI (June)

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