Oil Prices Jump, S&P 500 Falls On Trump Blockade. But Can It Work?

Crude oil prices jumped past $100 a barrel Monday as markets reacted to President Donald Trump's weekend announcement that the U.S. will blockade Iranian ports until the country relents on its nuclear ambitions. The S&P 500 fell, but markets aren't yet signaling panic about a potential re-escalation of the conflict or longer-term shutdown of the Strait of Hormuz. The U.S. military announced a blockade of "all maritime traffic entering and exiting Iranian ports," effective 10 a.m. ET.