Bears fighting

(Valerio Ferraro/Getty Images)

Stocks close lower as Trump says Strait of Hormuz will remain closed until deal is signed

Oil raillied and stocks closed lower, paring steeper losses.

Tasha Matsumoto

4/20/26 4:02PM

Stocks fell and oil rallied as US-Iran tensions escalated over the weekend. Today, President Trump said that the Strait of Hormuz will remain closed until a deal with Iran is signed, saying the chances that a ceasefire will be extended are “highly unlikely.” The S&P 500 broke its five-session winning streak, the Nasdaq 100 broke its 13-session winning streak, while the Russell 2000 gained.

Communications was the worst-performing sector, dragged down by losses in Google, Meta, and Netflix. Materials was the best performer.

Stocks that moved higher:

Compass Pathways soared after Trump signed an executive order on Saturday encouraging research into the psychedelic drug ibogaine.
Marvell Technology rose after The Information reported over the weekend that the chip company is in talks with Google to develop two ‌new chips to run AI models.

Stocks that moved lower:

AST SpaceMobile dropped after BlueBird launched into an incorrect orbit.
Fermi plunged after it disclosed in regulatory filings that its now former CEO, Toby Neugebauer, and its CFO, Miles Everson, departed on Friday and Monday, respectively.
United Airlines and American Airlines dipped as senators sent a warning letter regarding the merger rumors, citing potential for higher fares and reduced service.

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