Nasdaq to lead the fall as stocks shrug off Trump's deadline delay

• Nasdaq futures down 0.5%, S&P 500 and Dow Jones futures both down 0.3%, with European markets also trading lower (FTSE 100 down 0.7%, DAX down 1.3%)
• Oil prices remain elevated with Brent crude at $110/barrel and WTI at $96.63, as the Strait of Hormuz blockage threatens 8 million barrels per day
• Analysts note markets are 'not buying' Trump's deadline extension claims, with elevated dollar and bond yields reflecting ongoing geopolitical and stagflation risks

Market Summary: Nasdaq to Lead Decline as Trump Extends Iran Deadline

Key Developments

Wall Street futures pointed to a lower open on Friday, March 27, 2026, despite President Trump extending his deadline for Iran to reopen the Strait of Hormuz by ten days to April 6. Trump claimed negotiations are "going very well," but markets remained skeptical of the delay.

Market Performance

• Nasdaq futures: down 0.5%
• S&P 500 futures: down 0.3%
• Dow Jones futures: down 0.3%
• FTSE 100: down 0.7%
• DAX: down 1.3%
• CAC 40: down 0.8%

Oil Market Impact

Oil prices maintained significant gains amid ongoing supply disruptions:

• Brent crude: rose to $110/barrel (third consecutive day)
• WTI futures: climbed to $96.63 from previous close of $94.48
• Supply risk: approximately 8 million barrels per day remain threatened
• Strait of Hormuz: effectively blocked, causing continued market pressure

Market Implications

Saxo Markets analyst Neil Wilson emphasized that Trump's deadline extension offers no clear resolution to the crisis. Market focus is shifting from inflation concerns to stagflation risks as the oil supply disruption persists. G7 diplomats are meeting in Paris to ease tensions, though disruption is expected to continue.

Wilson noted that markets are not convinced by Trump's optimistic social media posts, with crude prices remaining elevated while equities decline. Dollar and bond yields also remained elevated, reflecting continued uncertainty.

The previous session saw the worst day for US stocks since the Middle East conflict began, highlighting investor anxiety over the unresolved geopolitical crisis.