US President Donald Trump announced an immediate US Navy blockade of the Strait of Hormuz, heightening geopolitical tension and market anxiety.
Oil prices surged above $100 per barrel, with Brent at $101.65 (+6.7%) and WTI at $103.42 (+7.1%).
US stock futures slipped, Dow down 239 points (0.5%), S&P 500 down 40 points (0.6%), Nasdaq 100 down 168 points (0.7%).
Goldman Sachs and LVMH will report earnings, Goldman shares up ~3% YTD, while Middle East luxury sales fell up to 50%.