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Dow, S&P 500, Nasdaq trim losses after Trump orders Hormuz blockade against Iran

US stocks were mixed on Monday after President Trump ordered the US to blockade the Strait of Hormuz following the failure of US-Iran talks.

The Dow Jones Industrial Average (^DJI) led the decline, falling 0.3%, as rising oil prices reignited concerns about inflation and risks to global growth. Meanwhile, the S&P 500 (^GSPC) is trending above the horizontal line after trimming early trading losses. The tech-heavy Nasdaq Composite (^IXIC) returned to positive territory, up 0.2%.

Trump’s move to block all maritime traffic in the Strait of Hormuz has escalated already high tensions in the Middle East. This posed further risks to markets, whose hopes for an end to hostilities were dashed as negotiations broke down in Islamabad.

“Effective immediately, the U.S. Navy, the Best Navy in the World, will begin the process of BLOCKING all Ships attempting to enter or exit the Strait of Hormuz,” Trump said. Real Social. The blockade was scheduled to begin at 10 a.m. ET on Monday.

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

Oil prices have rebounded above $100 per barrel on the threat to global energy flows; While the global benchmark Brent crude oil (BZ=F) rose 5%, its US counterpart, West Texas Intermediate futures contracts (CL=F) for May delivery, rose nearly 5% to over $101 per barrel.

Goldman Sachs (GS) started with strong profits, closer to bank earnings, but shares fell along with broader share losses. First quarter results from Bank of America (BAC), Wells Fargo (WFC), Citigroup (C), JPMorgan Chase (JPM) and Morgan Stanley (MS) will follow as the week progresses.

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Trump threatens to destroy Iranian ships blocking blockade in Strait of Hormuz

President Trump threatened to destroy Iranian ships in the Strait of Hormuz on Monday, minutes before the start of a US blockade of the region.

“Iran’s Navy lies at the bottom of the sea, completely destroyed; 158 ships,” Trump wrote Monday morning.

He stated that the US did not target the small number of ships they called “fast attack ships” because “we don’t see them as much of a threat.”

“Warning: If any of these ships come near our blockade, they will be ELIMINATED immediately using the same kill system we use against drug dealers on boats at Sea,” he added.

Trump announced that the US Navy will initiate a blockade of the Strait of Hormuz starting at 10 a.m. on Monday, restricting ships’ entry and exit into the critical waterway.

The move aims to cut off Iran’s ability to export oil and reduce the country’s control over the transit.

Oil futures pared earlier gains but still remained above $100 a barrel on Monday.
Amazon drives ‘Magnificent 7’ recovery towards major resistance

After going nowhere for over a year, Amazon (AMZN) is finally getting a major test.

The stock rose to a key resistance level after its biggest three-day rally in five months, leading shares of the “Magnificent Seven” to pull back from the March 30 lows.

The $238-$240 region has capped consecutive rallies since early 2025 as Amazon is currently heading towards a downtrend line drawn from the early November high and early January peak.

This leaves the stock at a decision point. If stocks are lower today, it could be a pause or pullback you’ve been waiting for at the resistance level. However, if Amazon can surpass $240, it will open the door for a retest of all-time highs around $255-260.

In case of weakness, bulls want to see the $220-225 zone, which is aligned with the 200-day moving average and recent support.
Stocks fall at open as oil rises on threat of US blockade of Hormuz

Oil prices rose on Monday after US-Iran talks collapsed, putting 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) fell 0.7% in the first minutes of trading.

Oil rose above $100 per barrel again; Brent (BZ=F) is trading at $101 per barrel and West Texas Intermediate (CL=F) is trading at $103 per barrel.

Goldman Sachs (GS) shares fell more than 3% in the first quarter even as it reported profit growth from stock trading. The earnings call with CEO David Solomon has just begun; You can listen live here.
Treasury yields increased as oil prices increased

Treasuries sold off Monday as President Trump threatened to close the Strait of Hormuz and new consumer price data released Friday revived expectations for higher inflation.

As oil prices rose on Monday, the 10-year yield (^TNX) rose 3 basis points to 4.34%, while the longer-term 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 around 99 as higher oil prices supported the idea that the Fed would keep interest rates steady or raise them.
Goldman Sachs shares fall despite strong profits from stock trading and mergers and acquisitions boom

Goldman Sachs (GS) profits rose in the first quarter, driven by jumps in M&A deals and record stock trading.

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

Yahoo Finance’s David Hollerith reports:

Read more here.
Wary investors eyeing new escalation in Iran war

The possibility of a renewed intensification of the Iran war following the failure of peace talks threatens to cause new volatility in global markets, after a week in which a fragile ceasefire led to the biggest rise in stocks this year and a decline in oil prices.

From Bloomberg:

Read more here.
‘Not that optimistic’: Big banks enter first-quarter earnings season on a less certain footing than January

Wall Street’s biggest banks enter first-quarter earnings season on a much less certain footing than where they started 2026. Next week, their ability to make more profits will be put to the test once again.

Yahoo Finance’s David Hollerith reports:

Read more here.
TSMC on track for record fourth-quarter profit ahead of earnings report

Reuters reported:

Read more here.
Oil prices rise after Trump announces Hormuz blockade

Bloomeberg reports:

Read more here.

Dow, S&P 500, Nasdaq trim losses after Trump orders Hormuz blockade against Iran

Trump threatens to destroy Iranian ships blocking blockade in Strait of Hormuz

Amazon drives ‘Magnificent 7’ recovery towards major resistance

Stocks fall at open as oil rises on threat of US blockade of Hormuz

Treasury yields increased as oil prices increased

Goldman Sachs shares fall despite strong profits from stock trading and mergers and acquisitions boom

Wary investors eyeing new escalation in Iran war

‘Not that optimistic’: Big banks enter first-quarter earnings season on a less certain footing than January

TSMC on track for record fourth-quarter profit ahead of earnings report

Oil prices rise after Trump announces Hormuz blockade

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