# Dow futures fall nearly 500 points after US-Iran talks fail in Islamabad; WTI crude surges 8% US markets had rallied last week in anticipation of the peace.

*business · news · 2026-04-12 · CNBC TV18*

## Key points

- Dow futures dropped nearly 500 points after US-Iran peace talks failed in Islamabad.
- WTI crude oil surged 8%, surpassing $105 a barrel following the breakdown in talks.
- President Trump announced a US naval blockade of the Strait of Hormuz starting Monday.
- US Central Command will block all maritime traffic to and from Iranian ports from 10 AM ET.

**Companies:** Goldman Sachs, Citigroup, Wells Fargo, JPMorgan Chase, Morgan Stanley, Bank of America
**Countries:** United States, Iran, Pakistan

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