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Stock market today: Dow, S&P 500, Nasdaq slide after Trump orders Hormuz blockade against Iran


US stocks traded lower on Monday after President Trump ordered a US blockade of the Strait of Hormuz following the collapse of US-Iran negotiations.

The Dow Jones Industrial Average (^DJI) fell roughly 0.5%, while the S&P 500 (^GSPC) and tech-heavy Nasdaq Composite (^IXIC) dropped by 0.2% as a surge in oil prices revived concerns about inflationary pressure and potential drag on global growth.

Trump’s move to block all maritime traffic through the Strait of Hormuz escalated already high tensions in the Middle East. That has piled on even more risk for markets whose hopes for a cessation in hostilities were dented by the breakdown in negotiations in Islamabad.

“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,” Trump wrote on Truth Social. The blockade is scheduled to start at 10 a.m. ET on Monday.

Iran responded by vowing to target all Persian Gulf ports if its own energy hubs are threatened, calling the US move “an act of piracy.”

Oil prices jumped back above $100 on the threat to global energy flows, with the global benchmark Brent crude (BZ=F) rising 7% to $101 a barrel, while the US counterpart, West Texas Intermediate futures (CL=F), were up over 7% to top $103 per barrel.

Attention now turns to the start of first quarter earnings season. Goldman Sachs (GS) kicked off bank earnings on Monday with strong profits. Results from Bank of America (BAC), Wells Fargo (WFC), Citigroup (C), JPMorgan Chase (JPM), and Morgan Stanley (MS) will follow as the week progresses.

LIVE 7 updates

  • Stocks fall at the open as oil climbs on threat of US Hormuz blockade

    A rise in oil prices on Monday after US-Iran talks fell through put pressure on stocks to start the trading week.

    The S&P 500 (^GSPC) and tech-heavy Nasdaq Composite (^IXIC) fell 0.3%, while the Dow Jones Industrial Average (^DJI) slid 0.7% in the first minutes of trading.

    Oil was back above $100 per barrel, with Brent (BZ=F) trading at $101 per barrel and West Texas Intermediate (CL=F) trading at $103 per barrel.

    Goldman Sachs (GS) stock fell more than 3% despite reporting a profit increase, driven by equity trading in the first quarter. The earnings call with CEO David Solomon just started — you can listen to it live here.

  • Treasury yields jump as oil prices rise

    Treasurys sold off on Monday as President Trump’s threat to block the Strait of Hormuz and new consumer price data released on Friday revived higher inflation expectations.

    As oil prices surged on Monday, the 10-year yield (^TNX) climbed 3 basis points to 4.34%, while the longer-dated 30-year yield (^TYX) rose 2 basis points to 4.93%. Bond yields trade inversely to bond prices, meaning prices were lower on Monday.

    The US dollar index (DX-Y.NYB) also climbed to nearly 99 as higher oil prices supported the notion that the Fed would hold or raise interest rates.

  • Goldman Sachs stock drops despite strong profits from stock trading, M&A surge

    Goldman Sachs’ (GS) profits climbed in the first quarter, fueled by jumps in M&A dealmaking and record equity trading.

    But the stock dropped 3% in premarket trading as intermediation revenue for fixed income, currencies, and commodities fell short of expectations.

    Yahoo Finance’s David Hollerith reports:

    Read more here.

  • Wary investors eye another escalation in Iran war

    The prospect that the Iran war will reintensify after the failure of peace talks threatens to spark fresh volatility across global markets, after a week that saw a fragile ceasefire drive stocks up and oil down by the most this year.

    From Bloomberg:

    Read more here.

  • ‘Not as bullish’: Big banks are entering Q1 earnings season on less certain footing than in January

    Wall Street’s biggest banks are riding into the first quarter earnings season on far less certain ground than where they began 2026. This coming week, their ability to churn out more profits will once again be put to the test.

    Yahoo Finance’s David Hollerith reports:

    Read more here.

  • TSMC on track for fourth quarter of record profits ahead of earnings report

    Reuters reports:

    Read more here.

  • Oil prices pump after Trump announces Hormuz blockade

    Bloomeberg reports:

    Read more here.



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Tags :maritime trafficNASDAQ Compositeoil pricesPresident TrumpStrait of HormuzUS blockade
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