Stock market today: Dow, S&P 500, Nasdaq futures fall as the US and Iran fail to agree to peace, US blockades Hormuz

US banal futures slid sharply Sunday evening aft President Donald Trump said the US would determination to artifact each maritime postulation done the Strait of Hormuz, pursuing the illness of play negotiations betwixt Washington and Tehran.

Futures tied to the Dow Jones Industrial Average (YM=F) fell astir 1.2%, pointing to a driblet of much than 580 points astatine the open. Contracts connected the S&P 500 (ES=F) and Nasdaq 100 (NQ=F) besides declined 1.3% and 1.4% respectively.

Last week, optimism astir a impermanent ceasefire had driven a beardown rally. The S&P 500 (^GSPC) posted a summation of astir 3.6%, portion the Nasdaq (^IXIC) roseate astir 4.7% and the Dow (^DJI) added 3%, marking their champion play performances since November.

Bucking hopes for a cessation successful hostilities pursuing bid talks implicit the weekend, Tump announced successful a station connected Truth Social, that "Effective immediately, the United States Navy, the Finest successful the World, volition statesman the process of BLOCKADING immoderate and each Ships trying to enter, oregon leave, the Strait of Hormuz".

The announcement followed failed talks successful Islamabad, wherever US officials, including Vice President JD Vance, near without an agreement. Disputes reportedly extended beyond Iran to broader demands specified arsenic power implicit the strait, financial reparations, and a halt of Israeli attacks successful Lebanon.

Markets reacted swiftly to the deficiency of resolution. US crude benchmark West Texas Intermediate (CL=F) surged much than 8% to supra $104 per tube portion Brent (BZ=F) crude roseate 7.5%, raising concerns astir renewed inflationary unit and imaginable resistance connected planetary growth.

Attention present turns to the commencement of first-quarter net season. Major US banks are acceptable to study results, with Goldman Sachs (GS) kicking things disconnected Monday, followed by Bank of America (BAC), Wells Fargo (WFC), Citigroup (C), JPMorgan Chase (JPM), and Morgan Stanley (MS) passim successful the week.