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International Business Times UK

Niloy Chakrabarti

US Stocks Continue Downtrend, Gold Records Largest Weekly Decline Since '83 After Trump's Hormuz Ultimatum

Donald Trump United States Gold Fatih Birol Oil International Energy Agency Iran Middle East the Middle East the Middle East war

US stocks and gold prices continued to decline as Trump's 48-hours Hormuz deadline nears end. (Credit: Rawpixel)

US stock futures and commodity markets fell sharply on Monday as the world braced for the expiration of President Donald Trump's 48-hour ultimatum to Iran.

In a high-stakes gamble to end the Strait of Hormuz blockade, the President warned late on Saturday that the US military would 'obliterate' Iran's energy infrastructure unless the vital waterway is reopened 'without threat' by Monday night.

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