Trump delays Strait of Hormuz deadline as Wall Street has biggest loss of war

U.S. President Donald Trump said on Thursday (March 27, 2026) he will delay a threatened strike on Iran’s energy infrastructure and extend his deadline for Tehran to reopen the Strait of Hormuz until April 6, saying talks to end the war are “going very well.”

The move marks a pullback from Mr. Trump’s earlier warning that the U.S. would target Iran’s energy plants if the crucial shipping lane remained closed. Iran has threatened to retaliate against regional infrastructure, including desalination facilities, if the U.S. follows through.

Mr. Trump’s announcement on social media came after U.S. stocks fell sharply and oil prices rose, as doubt took over again on Wall Street about a possible end to the war.