# The Dow Jones Industrial Average fell 278 points, or 0.6 percent.

*business · news · 2026-04-07 · Moneycontrol*

## Key points

- Trump set an 8 p.m. ET deadline for Iran to reopen the Strait of Hormuz.
- U.S. officials confirmed American forces struck Iran’s Kharg Island overnight before the deadline.
- Trump suggested the U.S. might not proceed with military action despite earlier threats.
- Negotiators are reportedly pessimistic about reaching a deal before the deadline.

**Countries:** United States, Iran

[Read the full story on Moneycontrol](https://www.moneycontrol.com/world/dow-drops-over-200-points-as-iran-deal-doubts-grow-ahead-of-trump-deadline-oil-tops-110-article-13882670.html)

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