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

President Trump threatened to destroy Iranian ships in the Strait of Hormuz on Monday, just minutes after the US blockade of the region began.

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

He stated that the US did not target a small number of what he 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.

Over the weekend, Trump announced that the United States would initiate a blockade of the Strait of Hormuz at 10 a.m. ET on Monday, restricting ships from entering and exiting 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.