Stock Market Today: Futures Fall, Oil Jumps as Iran Says Missiles Hit US Ship Near Strait of Hormuz
Stock futures fell and oil prices jumped after Iranian state media reported that Iran had struck a U.S. Navy frigate near the Strait of Hormuz. However, a senior U.S. official later denied that a U.S. ship was struck by Iranian missiles.
Stock futures fell and oil prices jumped after Iranian state media reported that Iran struck a U.S. Navy frigate near the Strait of Hormuz. The Fars News Agency said the frigate 'came under missile attack after ignoring warnings from the naval forces of the Islamic Republic of Iran.' West Texas Intermediate futures surged 3% to $105 a barrel. A senior U.S. official later denied that a U.S. ship was struck by Iranian missiles. President Donald Trump had announced that the U.S. would 'guide' stranded ships through the strait. The 10-year Treasury yield rose to 4.41% from 4.38% at Friday's close.
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