Markets shudder as Strait of Hormuz starts resembling a combat zone. 'We're prepared to subject you to disabling fire'

(Credit: U.S. Marine Corps)

Stock futures tumbled and oil prices jumped on Sunday after hopes that the Strait of Hormuz would fully reopen were deflated over the weekend by renewed gunfire.

Futures tied to the Dow Jones industrial average fell 407 points, or 0.82%. S&P 500 futures were down 0.67%, and Nasdaq futures lost 0.57%.