BUSINESS

Trump's Deadline Sends Markets Tumultuous Amid Iran Crisis

PUBLISHED Apr 6, 2026, 11:44 PM ET

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United States: President Donald Trump set an 8 p.m. ET deadline and threatened strikes on Iranian power plants and bridges, prompting volatile trading in U.S. markets on Monday and Tuesday and driving oil price swings as officials and traders monitored developments and diplomatic responses. Markets reacted with declines in major U.S. indexes this week and a sharp oil spike before reports late Tuesday indicated a two-week ceasefire and temporary reopening of the Strait of Hormuz, leading to plunging crude futures and rallies in Asian and U.S. futures the following hours.

By James Porter | JQJO News

Timeline of Events

Earlier: Trump issued and repeatedly moved deadlines threatening strikes on Iranian infrastructure.
Monday: U.S. markets drifted higher amid uncertainty; Iran rejected a ceasefire proposal.
Tuesday morning: Stocks moved mostly lower as the 8 p.m. ET deadline approached, with sharp intraday swings.
Late Tuesday: Reports said the U.S. and Iran agreed to a two-week ceasefire and the Strait would be reopened.
After ceasefire: Oil futures fell sharply and global equity futures rose on reduced supply-risk expectations.

News Intelligence

Market swings affect your wallet. When tensions rise, oil prices can spike. This can raise gas and home heating costs. Check your budget and consider energy-saving steps.

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Who Benefited

Energy exporters and oil traders benefited from initial price spikes, while markets and oil importers saw relief and lower spot prices after the reported ceasefire and reopening of the Strait of Hormuz.

Who Impacted

Investors experienced volatility and intra-day losses as markets reacted to escalation risks; civilians and infrastructure in the conflict zone faced increased danger amid threats to power plants and bridges.

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