Hormuz Blockade Sparks Market Slump as Oil Surges

U.S. stock futures fell early Monday after President Trump announced the blockade of the Strait of Hormuz, fueling fears of a longer conflict and a sharp rise in oil prices. Futures on the Nasdaq-100, Dow, and S&P 500 were down about 0.6%, 0.5%, and 0.6% respectively at 3:10 a.m. EDT, while Brent and WTI crude jumped roughly 6–7% as talks in Islamabad collapsed. Investors also kept an eye on the start of the Q1 earnings season, led by banks like Goldman Sachs and Citigroup.