Stock futures slip after U.S., Iran exchange airstrikes again: Live updates - CNBC
U.S. stock markets declined following President Trump's announcement of a blockade on Iranian shipping in the Strait of Hormuz. The move, which follows an exchange of airstrikes, caused a significant spike in global oil prices.
Why it matters
Geopolitical instability in the Middle East directly impacts global energy markets and investor confidence in the U.S. economy.
Stocks fell on Monday after President Donald Trump announced he was reinstating what he called a blockade on Iranian shipping through the Strait of Hormuz, sending oil prices higher.
The S&P 500 lost 0.79% to end the day at 7,515.34, while the Nasdaq Composite fell 1.55% to finish at 25,873.18. The Dow Jones Industrial Average settled down 138.37 points, or 0.26%, at 52,498.64.
"We are reinstating the THE IRANIAN BLOCKADE, so named because it is only stopping Iran's ships or customers from entering or leaving," Trump said in a post on Truth Social.
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