Markets wait for Trump and Iran to follow through on Hormuz threats that carry potentially catastrophic results

Wall Street is bracing for a Monday deadline that President Donald Trump set for Iran to reopen the Strait of Hormuz while the global economy reels from an energy crisis that shows little signs of abating.

Futures tied to the Dow Jones industrial average fell 78 points, or 0.17%. S&P 500 futures were down 0.25%, and Nasdaq futures lost 0.32%.

U.S. oil futures dipped 0.12% to at $98.11 a barrel, and Brent crude eased 0.38% to $111.76. The national average gasoline price reached $3.94 a gallon on Sunday, up more than $1 over the past month, according to AAA.

The yield on the 10-year Treasury rose 1.7 basis point to 4.409%. The U.S. dollar was up 0.1% against the euro and flat against the yen.

On Saturday evening in the U.S., Trump gave Tehran 48 hours to comply with his demand or else face the destruction of power plants, potentially escalating his war to civilian infrastructure.

Iran responded to the ultimatum by warning that such an attack would result in its forces similarly Read Entire Article