Dow sinks 100 points, oil nears $100 as Strait of Hormuz traffic remains limited
By Taylor Herzlich
Published on April 9, 2026.
The Dow Jones Industrial Average fell by 128 points, while the S&P 500 and Nasdaq each fell by 0.1%. This comes after Iran accused the US of violating its ceasefire agreement and limited traffic through the Strait of Hormuz. Despite President Trump announcing a two-week ceasefire with Iran, the ceasefire is contingent on the reopening of the strait, a vital maritime route for 20% of the world's oil supply. Iran reportedly blocking ships from passing through the waterway, blaming it on a broken agreement. Despite this, tensions remain high as President Trump threatens to unleash a stronger military assault on Tehran if it violates the deal.
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