Wall Street indexes hit record highs as oil falls with Strait of Hormuz declared open
By Sinéad Carew and Niket
Nishant
Fri April 17, 2026
With Iran’s announcement that the Strait of Hormuz would now be open and Trump’s announcement that a peace deal could be reached as early as this weekend (though not yet confirmed by Iran), the markets exploded for a third consecutive day of new record highs. Oil plunged 11% which pacified investors that the concern about oil blowing up inflation was diminishing.