Adam Button, an analyst at the financial website InvestingLive, said: "The market had hoped for a relatively calm week, allowing the US and Iran to de-escalate tensions and prepare for the next round of negotiations next week. However, the memorandum of understanding reached in late June has now completely fallen through. This effectively means both sides have pressed the 'reset' button, and everything is back to square one. It seems that previous optimism has ultimately failed. Market concerns about the Strait of Hormuz have resurfaced. Although there hadn't been any substantial progress in reopening the strait, Trump's statement means that even those 'political shows' intended to gain attention have come to an end."
Meanwhile, Trump continued to criticize NATO, with Spain becoming his latest target. He expressed dissatisfaction with Madrid's defense spending, calling it a "bad partner" of NATO, and displeased with Spain's unwillingness to help resolve the Middle East situation. Therefore, he claimed to have instructed Washington to cut off trade ties with Madrid. Currently, Spain's response is that they see Trump's remarks merely as a threat and believe he doesn't actually intend to take action. That said, the possibility of Trump taking reckless actions should not be underestimated. If Spain becomes the focus of scrutiny, then other European countries may not escape the same fate. Now, after declaring that dealing with Iran is a "waste of time," Trump has turned his attention to Greenland. At the NATO summit in Ankara, Trump's obsession with "owning Greenland" made a strong comeback.
