Markets on alert as Trump vows ‘Project Freedom’ for Hormuz, setting up potential showdown after renewed attacks on ships

Financial markets were muted on Sunday as investors were reluctant to bite on the latest well-timed social media post from President Donald Trump about Iran. Futures tied to the Dow Jones industrial average fell 53 points, or 0.11%. S&P 500 futures were up 0.08%, and Nasdaq futures added 0.25%. U.S. oil futures dipped 0.16% to $101.78 a barrel, while Brent crude rose 0.1% to $108.28. Gold fell 0.68% to $4,613.10 per ounce. The U.S. dollar was flat against the euro and up 0.08% against the yen. The yield on the 10-year Treasury was steady at 4.372%. An hour before oil futures began trading, Trump posted on Truth Social that the U.S. will guide ships from “neutral and innocent” countries out of the Strait of Hormuz. He dubbed the effort Project Freedom, which will start Monday. “The Ship movement is merely meant to free up people, companies, and Countries that have done absolutely nothing wrong — They are victims of circumstance,” he added. “This is a Humanitarian gesture on behalf of the United States, Middle Eastern Countries but, in particular, the Country of Iran.” Trump also said his envoys were having positive discussions with Iran, but warned that if his Project Freedom is interfered with, it will “have to be dealt with forcefully.” The littoral combat ship USS Canberra (LCS 30) patrols the Arabian Sea during a maritime blockade against ships entering or exiting Iranian ports and coastal areas, April 17, 2026.U.S. Navy A statement from U.S. Central Command said it will support Project Freedom, adding that the Maritime Freedom Construct initiative announced by the State Department last week aims to “enhance coordination and information sharing among international partners in support of maritime security in the strait.” U.S. military support for Project Freedom will include destroyers, more than 100 aircraft, unmanned platforms, and 15,000 service members, according to Central Command. Last month, Navy w