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US Stock Market Live Updates: Wall Street futures fell Monday after Donald Trump ordered a naval blockade of the Strait of Hormuz, following the collapse of US-Iran talks in Islamabad. Losses, however, narrowed as markets steadied.Dow futures were down 500 points, or about 1.04%, after dropping as much as 580 points earlier.  S&P 500 and Nasdaq-100 futures were also 0.7% at around 17:20 IST.In a Truth Social post, Trump said the US Navy would begin blocking ships entering or leaving the strait from 10 a.m. ET, with support from other countries. The move came after Vice President JD Vance exited talks, citing Iran’s refusal to curb its nuclear programme. Iran, in turn, pushed for control of the strait, war reparations and access to frozen assets.The escalation lifted oil prices. Brent crude rose as much as 9% to near $104 per barrel before easing to above $101. West Texas Intermediate crossed $104 and remained up over 7%–8%.Higher oil prices have revived concerns around inflation and global growth. Iran warned it would target Persian Gulf ports if its energy infrastructure is hit, calling the US move “an act of piracy.”It is pertinent to note that last week’s ceasefire had driven a strong rally, with the S&P 500 gaining 3.6%, the Nasdaq rising 4.7% and the Dow adding 3%. The truce appears to be holding for now, even as tensions persist.Focus now shifts to earnings. Goldman Sachs is set to report Monday, followed by JPMorgan Chase, Citigroup, Wells Fargo, Morgan Stanley and Bank of America later this week.Shares of Williams-Sonoma rose over 2% after Goldman Sachs upgraded the stock to “buy,” citing attractive valuations and highlighting the company’s strong portfolio of retail brands.Meanwhile, Best Buy fell about 4% after Goldman downgraded the stock to “sell.” The brokerage flagged potential downside risks to sales beyond the first quarter, noting that rising memory costs could push up laptop and computer prices, impacting demand.Shares of Fastenal declined more than 4% despite reporting first-quarter results in line with Street expectations. The company posted earnings of 30 cents per share on revenue of $2.2 billion, matching analyst estimates.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.