Iran Announces Strait of Hormuz Closure, Crude Futures Surge 3% as U.S. Stocks Fall

According to UAnalyze, over the weekend, Iran announced the closure of the Strait of Hormuz following renewed U.S.–Iran attacks, breaking a temporary agreement signed last month. The move sent crude oil futures surging over 3%, pressuring market sentiment.

U.S. stock index futures declined broadly: Dow Jones futures fell 0.1%, S&P 500 fell 0.4%, and Nasdaq 100 dropped 1.2%. Technology and semiconductor stocks bore the heaviest losses, with the iShares Semiconductor ETF down 3.1%. Memory chip makers including Micron (down 4.9%), Western Digital (down 5.1%), and SK Hynix (down 9.3% on its first trading day) faced significant sell-offs. This week's key events include Tuesday's CPI report, Federal Reserve Chair Kevin Warsh's congressional testimony, and earnings from major banks, Netflix, GE Aerospace, and UnitedHealth.