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The NATO summit was supposed to focus on defense spending. Trump’s strikes on Iran changed that

ANKARA, Turkey, July 8, 2026 (AP) — President Donald Trump surprised NATO leaders he is meeting with in Turkey by launching a series of strikes on Iran late Tuesday and revoking a license that allowed Tehran to sell its oil on the world market, a major twist for a summit that had been aimed at showcasing how alliance members were stepping up spending on defense and focusing on support for Ukraine’s war with Russia. The strikes were retaliation after three merchant ships were struck in the Strait of Hormuz, and underscored the fragility of an interim deal to end months

Tehran targets Bahrain and Kuwait after US strikes and limits Iran’s oil sales over ship attacks

DUBAI, United Arab Emirates, July 8, 2026 (AP) — The U.S. military attacked Iran early Wednesday after it said Tehran struck three ships in the Strait of Hormuz, part of an American effort that also revoked the Islamic Republic’s ability to openly sell crude oil in the world market. Iran retaliated with strikes targeting Bahrain and Kuwait. The regional crossfire raised the risks that an interim agreement to halt fighting in the war could break down, putting the Middle East again at risk of a wider conflict. The attacks on shipping and the resulting strikes came during the dayslong funeral

Stock markets decline in early trade on renewed US-Iran tensions, spike in crude oil prices

A screen displays an image of U.S. President Donald Trump at the Bombay Stock Exchange (BSE) in Mumbai, India. (Photo: Reuters

Mumbai, Jul 8 (PTI) Benchmark indices Sensex and Nifty tumbled in early trade on Wednesday amid renewed US-Iran tensions and a fresh spike in crude oil prices. The 30-share BSE Sensex tanked 537.83 points to 77,642.89 in early trade. The 50-share NSE Nifty was down 163.55 points to 24,235.15. From the Sensex pack, Asian Paints, InterGlobe Aviation, Reliance Industries, ITC, Bajaj Finance and Mahindra & Mahindra were among the major laggards. Sun Pharma, HCL Tech, Tech Mahindra, Power Grid and ICICI Bank were the gainers. Brent crude, the global oil benchmark, quoted 2.55 per cent higher at USD 76.05 per

Rupee declines 20 paise to 95.16 against US dollar in early trade

Mumbai, Jul 8 (PTI) The rupee slipped 20 paise to 95.16 against the greenback in early trade on Wednesday as the US launched fresh strikes on Iran after Tehran struck three ships in the Strait of Hormuz, pushing up crude oil prices and strengthening the dollar. A weaker opening in the domestic equity markets further pressured the local unit, according to forex traders. At the interbank foreign exchange market, the rupee opened at 95.15 against the US dollar before slipping further to 95.16, down 20 paise from its previous close. On Tuesday, the rupee appreciated 47 paise to close at

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