Trump Orders Naval Blockade of Strait of Hormuz: Markets Tumble as Oil Surges Past $100
Key Takeaways Trump directed the US Navy to blockade the Strait of Hormuz effective Monday at 10 a.m. ET Dow futures plummeted up to 580 points before moderating; S&P 500 and Nasdaq futures declined approximately 0.5–0.7% Crude oil prices jumped above $100 per barrel, with Brent climbing as much as 9% Tehran denounced the blockade as “an act of piracy” and vowed to strike Persian Gulf ports First quarter bank earnings reporting begins Monday with Goldman Sachs US equity futures experienced significant declines Monday morning following President Donald Trump’s declaration of a US Navy blockade targeting the Strait of Hormuz, a critical artery for global oil shipments. The president revealed his plans via Truth Social, stating: “Effective immediately, the United States Navy, the Finest in the World, will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz.” Implementation was scheduled for 10 a.m. ET Monday. BREAKING: Presid...