Traders Are ‘On Pins and Needles’ as They Prepare for the Iran Deadline

The S&P 500 slumped and U.S. oil futures climbed after President Trump escalated his threats against Iran ahead of his evening cutoff to reopen the Strait of Hormuz. The moves highlighted how sensitive markets remain to headlines from the Middle East. “The president has apparently drawn a line in the sand—which he has changed before,” said Michael Sheldon, vice president and senior portfolio manager for Washington Trust Wealth Management.