Trump's 8 p.m. Iran deadline spikes oil, lifts VIX
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- Trump intensified threats against Iran and set an 8 p.m. Eastern deadline for Tehran to reopen the Strait of Hormuz, prompting market attention.
- Shehbaz Sharif urged a two‑week extension to Trump's deadline and asked Iran to temporarily reopen the strait as a goodwill gesture.
- Dow Jones Industrial Average closed down 0.2% while the S&P 500 and Nasdaq each edged up 0.1% in a mixed market close.
- West Texas Intermediate rose 2.19% to $112.95 a barrel, the highest level since June 2022, as oil prices surged on the deadline news.
- Investors hedged heavily, with Charles Schwab’s head of trading and derivatives noting robust protection against downside risk.
- Analysts such as Argent Capital’s Jed Ellerbroek said optimism rose but warned a cycle of escalation‑de‑escalation persists, reflecting market uncertainty.
- Karoline Leavitt confirmed Trump is aware of Pakistan’s extension request and that a response will be forthcoming.
Why it matters: Traders and oil producers profit from the price rally, while equity investors face higher risk as the VIX jumps and market sentiment swings around the geopolitical deadline. The pressure on oil supply also fuels inflation concerns for the U.S. economy.
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