The S&P 500 Index ($SPX) (SPY) today is down -0.90%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.76%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.40%. June E-mini S&P futures (ESM26) are down -0.97%, and June E-mini Nasdaq futures (NQM26) are down -1.49%.
Stock indexes are falling today as crude oil prices climbed more than +3% to a 4-week high ahead of tonight’s deadline for Iran to agree to a ceasefire or face escalation of the war. The markets are watching for any sign of a breakthrough amid a flurry of diplomacy before President Trump’s 8 pm EST deadline tonight. Mr. Trump insists any deal must ensure uninterrupted transit through the Strait of Hormuz or he will destroy Iran’s bridges and power plants. The Wall Street Journal reported the US military is making preparations for potential strikes on energy targets in Iran. Stock losses accelerated today after the New York Times reported that Iran has ended negotiations with the US.
