"The U.S. Navy seized a ship for the first time as part of its blockade, with a destroyer firing at a would-be blockade runner."
"The IRGC declared that Hormuz was closed again to all vessels, regardless of type or national origin, escalating tensions in the region."
Stock futures declined significantly as oil prices surged following renewed tensions in the Strait of Hormuz. Dow Jones futures dropped 407 points, while S&P 500 and Nasdaq futures also fell. U.S. oil futures increased by 7.14%, and Brent crude rose by 5.9%. The U.S. dollar strengthened against the euro and yen. Tensions escalated when the U.S. Navy seized an Iranian-flagged ship, enforcing a blockade amid conflicting statements about the strait's accessibility.
Read at Fortune
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