Trump announces blockade of Strait of Hormuz as Vance leaves Pakistan talks with no deal . How financial markets are reacting .
Global Security & ConflictHold onto your hats, folks, because President Trump has announced a naval blockade of the Strait of Hormuz, turning up the heat on Iran and sending oil prices skyrocketing. Meanwhile, crypto and S&P 500 futures took a nosedive, as Vice President Vance left Pakistan talks with Iran empty-handed. With the U.S. and Iran still at odds, the risk of an energy crisis looms large, so brace yourselves for a wild ride in the markets.