Dow futures drop 400 points after Trump announces Strait of Hormuz blockade as talks fail: Live updates
By Sarah Min
Published on April 12, 2026.
U.S. stock futures fell by 400 points after President Donald Trump announced a blockade of the Strait of Hormuz, following failed peace talks between the U.S., Iran, and other countries. The announcement reignited concerns that the war could last longer than anticipated, leading to higher oil prices. The U.N. central command will begin blocking all maritime traffic from Iran's ports at 10 a.m. ET Monday. The United States will not block vessels using the strait to reach non-Iranian ports. The first-quarter earnings season for the nation's largest banks is set to begin, with Goldman Sachs set to release results on Monday.
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