(Il Sole 24 Ore Radiocor) - Milano, 13 apr - US futures were lower after the US moved to blockade the Strait of Hormuz following unsuccessful talks to cement a two-week ceasefire.

Wall Street posted gains last week as the fragile ceasefire drove a strong rally. The Dow rose 3% for the week, the S&P 500 added 3.6% while the tech-heavy Nasdaq jumped around 4.7%.

"Effective immediately, the United States Navy, the Finest in the World, will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz," Trump posted on his Truth Social platform.

Failure to firm up the ceasefire in talks in Pakistan over the weekend rekindled fears the US-Iran conflict could drag on longer than expected, sending oil prices back above the 100 dollar a barrel mark.

Also weighing on sentiment, media reports Washington was mulling limited strikes against Iran as it maneuvers to reopen the Strait of Hormuz, the narrow waterway that handled roughly a fifth of global energy flows before the conflict.

Goldman Sachs meanwhile kicked off the new earnings season by beating expectations on its first-quarter bottom line.

Results from Bank of America, Wells Fargo, Citigroup, JPMorgan and Morgan Stanley are due to follow during the week.

Futures on the Dow Jones were down 456.00 points, or 0.95%, S&P 500 futures were down 45.00 points, or 0.66%, while.

futures on the Nasdaq were down 163.75 points, or 0.65%.

(RADIOCOR) 13-04-26 14:00:06 (0341) 5 NNNN