US Futures Drop >1% After Iran Ceasefire Failure

S&P 500, Nasdaq and Dow futures fell 1.1‑1.4% after Iran ceasefire talks collapsed and a naval blockade of Hormuz was announced.
Brent crude rose above $100 per barrel as Hormuz blockade expectations heightened energy‑driven inflation concerns.
March US CPI showed a sharp increase, driven by energy prices, fueling worries that sticky inflation may keep the Fed’s rates unchanged.
Major banks and TSMC will report Q1 earnings this week, with Goldman Sachs on Monday and JPMorgan, Wells Fargo, Citigroup on Tuesday.