US S&P 500, Nasdaq and Dow futures fell over 1% after Iran ceasefire talks collapsed and a US Hormuz blockade was announced.
Brent crude surged above $100 per barrel, pushing energy-driven March CPI inflation higher and raising concerns of sticky price pressures.
Upcoming earnings season features TSMC’s strong March revenue boost and major banks—Goldman Sachs, JPMorgan, Wells Fargo, and Citigroup—reporting later this week.
President Donald Trump ordered a full maritime blockade of the Strait of Hormuz starting Monday 10:00 ET, heightening oil market volatility.