Stocks Rebound as Crude Oil Sinks After President Trump Eases Iran Threats

Stock index futures initially fell sharply in overnight trading after President Trump gave Iran until Monday evening to reopen the Strait of Hormuz. President Trump on Saturday issued a 48-hour ultimatum for Iran to "fully open" the Strait of Hormuz or the US will obliterate Iran’s various power stations. The ultimatum, which expires at 7:44 p.m. Eastern time on Monday, was met with harsh rhetoric from Iran, with one senior Iranian official saying that if such an attack were to occur, the headquarters and a ...