Overview
- Major U.S. indexes fell Friday in a fifth straight weekly decline, with the Dow and Nasdaq more than 10% off recent highs and all three at multi‑month lows.
- Oil prices jumped again, with Brent near $112 and U.S. crude around $100, as the blockade of the Strait of Hormuz squeezed flows through a waterway that carries about one‑fifth of the world’s oil and gas shipments.
- President Donald Trump extended his deadline to April 6 for Iran to reopen the strait or face strikes on energy plants, while Iran’s Tasnim agency reported a guarded reply seeking guarantees, and markets stayed skeptical.
- Borrowing costs climbed as the 10‑year Treasury yield hovered around the mid‑4% range and Wall Street’s fear gauge rose to roughly 30, signaling stress tied to higher energy costs and sticky inflation.
- Pressure spread beyond stocks, with CoinDesk reporting nearly $300 million of bullish crypto futures wiped out, while gasoline neared $4 a gallon and consumer sentiment slipped as households braced for higher prices and loan rates.