(Il Sole 24 Ore Radiocor) - Milano, 7 apr - US shares were trading lower as the clock ticks down on a deadline for Iran to open the Strait of Hormuz or face strikes to critical infrastructure.

US president Donald Trump said yesterday the US was ready to wipe out Iranian power plants and bridges if Tehran did not reopen the Strait of Hormuz by 8 pm (ET) today.

In a post today he said 'a whole civilization will die tonight, never to be brought back again. I don't want that to happen, but it probably will.' The US and Iran have criticised each other's cease-fire proposals but media reports said a proposal backed by mediator Pakistan is still under consideration.

In the meantime, oil prices were once again higher after media reported that the US has hit targets on Kharg Island, which host Iran's largest oil shipment facility. WTI futures were around 115 dollars per barrel in New York.

Investors fear failure to reach a deal in time will trigger a rapid escalation of the war which is already in its fourth week.

At 1729 GMT, the Dow Jones was down 254.09 points, or 0.54%, at 46,415.79 points.

The S&P 500 was 31.52 points, or 0.47%, lower at 6,580.50 points.

The Nasdaq was losing 148.57 points, or 0.67%, at 21,849.04.

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(RADIOCOR) 07-04-26 19:38:29 (0636) 5 NNNN