US seizure prompts Iran to tighten Hormuz access, rattling markets
Business
Rising tensions between the US and Iran at the Strait of Hormuz are rattling global markets. After the US seized an Iranian cargo ship, Iran responded by tightening access to this vital shipping lane.
Even with these moves, more than 20 ships still made it through on April 18, 2026—the busiest day since March.
Oil jumps 6% to $96
Oil prices shot up 6% to $96 a barrel as traders worried about supply.
The US dollar bounced back a bit after last week's dip.
Stock markets felt the impact too: S&P 500 futures slipped, Australia's market dropped slightly, but Japan's Nikkei actually rose.
Bond yields in the US also ticked up as investors watched for more twists in this ongoing situation.