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At today's NATO summit in Turkey, President Trump lashed out at Spain, which closed its airspace to U.S. planes involved in the Iran war. "We don't want to do any trade business with Spain anymore," Trump said in Ankara, Turkey.
The Ankara summit, which runs July 7-8, 2026, has already proven turbulent. Trump said on arriving in Turkey on Tuesday that he might have boycotted the gathering entirely had it not been for his personal friendship with President Recep Tayyip Erdogan, and he declined to rule out further U.S. troop withdrawals from Europe.
Spain's IBEX 35 fell sharply after President Donald Trump said he believed the U.S.-Iran ceasefire was over, and that he wants no more trade with the country. "We don't want to do any trade business with Spain anymore," Trump told a press conference in Ankara, Turkey. Madrid-listed banks slid sharply, with Banco Santander and BBVA losing 4.2% and 2.9%, respectively.
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