Stocks Open Lower as Oil Surges After Hormuz Blockade

U.S. stock indexes opened lower on the New York Stock Exchange and Nasdaq after President Trump announced a blockade of the Strait of Hormuz, a move that pushed crude oil prices higher and affected investor positioning. Goldman Sachs shares were among the biggest decliners as the quarterly bank-earnings season began.

The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all opened in negative territory as traders assessed the potential impact of the announcement. Brent and West Texas Intermediate futures climbed on concerns that shipments through the narrow Gulf waterway could be constrained. Energy stocks opened higher, while sectors sensitive to rising fuel costs and to shifts in investor risk appetite underperformed.

Goldman Sachs fell early in the session as it released quarterly results that drew attention to trading and advisory revenue and to provisions for credit losses. Early reports from a major bank are being watched for signals about revenue trends and expense pressures ahead of other large banks due to report later in the week.

Investors moved toward traditional safe-haven assets following the announcement. Spot gold prices strengthened and demand for U.S. Treasury securities increased, putting downward pressure on benchmark yields. Currency markets showed heightened volatility as participants reassessed implications for global growth and trade flows.

The Strait of Hormuz is a narrow passage that handles roughly one-fifth of seaborne-traded oil, so restrictions there can reduce flows of crude and refined products from the Persian Gulf to global markets and influence oil prices.

Market participants said they will monitor further statements from U.S. officials, shipping and tanker movements, comments from energy producers, upcoming corporate earnings and economic releases that could affect market direction and central bank expectations.