Earnings season intertwined with geopolitical crises, the market rekindled risk aversion

Crude oil prices soared as Trump ordered a blockade of the Strait of Hormuz, U.S. stock index futures fell and the dollar strengthened. The escalation comes after the United States and Iran failed to reach an agreement in the Pakistan talks and may disappoint investors. Elias Haddad, global head of market strategy at Brown Brothers Harriman Bank, said the move is bound to reignite risk aversion this week. Investors are focused on the upcoming first-quarter earnings season and look forward to corporate leadership's views on increasing risks.