Markets sell off as U.S.-Iran ceasefire plans go nowhere, leaving Trump with military options to reopen the Strait of Hormuz

Hopes for a peace deal with Iran waned on Sunday, raising the risk that the global energy crisis will drag on and leaving the U.S. to weigh military operations to reopen the Strait of Hormuz.

Futures tied to the Dow Jones industrial average fell 200 points, or 0.40%. S&P 500 futures were down 0.33%, and Nasdaq futures lost 0.28%.

U.S. oil futures rose 2.7% to $97.97 a barrel, while Brent crude climbed 2.7% to $104.01. Gold fell 0.76% to $4,695 per ounce.

The U.S. dollar was up 0.2% against the euro and up 0.14% against the yen. The yield on the 10-year Treasury was steady at 4.36%.

On Sunday, Iran responded to the U.S. ceasefire offer, saying talks must focus on permanently ending the war on all fronts, including in........

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