Trump Issues Hormuz Ultimatum, Announces Ceasefire

President Donald Trump issued a stark ultimatum to Iran on Tuesday, demanding the reopening of the Strait of Hormuz by 8 p.m. ET or face targeted military strikes on key infrastructure, including bridges, power plants, and oil facilities. The deadline, centered on the vital waterway that handles about 20 percent of global seaborne oil exports, heightened tensions in an ongoing Middle East conflict that has disrupted energy supplies and rattled financial markets for over a month.

The Strait's closure has driven Brent crude prices above $110 per barrel, up sharply from around $79 a month ago, as traders factored in supply risks and a geopolitical premium. Global stock indices, including the S&P 500, experienced volatility, dipping to a low of 6,316.91 on March 30, a 9.8 percent decline from January peaks, though the index avoided an official correction. Cryptocurrencies also fluctuated, with Bitcoin trading around $68,000 to $69,700 amid risk aversion, while Ethereum hovered near $2,085. Currency markets showed defensive positioning, with the U.S. dollar strengthening as investors sought safety.

Trump's rhetoric escalated the standoff, warning in a Truth Social post that failure...