S&P 500 Erases 'Operation Epic Fury' Losses as Islamabad Truce Reopens Strait of Hormuz
EW
Elara Weston
S&P 500 earnings beat miss · Apr 16, 2026
Source: DojiDoji Data Terminal
Delta Air Lines shares surged 12.5% following a 16% crash in crude oil prices triggered by the reopening of the Strait of Hormuz. The price drop followed a conditional 14-day truce brokered in Islamabad on April 7, 2026. The terms of the truce included the immediate and safe reopening of the Strait of Hormuz, which had been closed during the US-Iran conflict dubbed 'Operation Epic Fury'.
NVIDIA Corp. shares rose 3.2% as the physical threat premium on its Middle Eastern research facilities evaporated. The S&P 500 climbed over 10% from its March 30 lows of 6,316 points. As of mid-April 2026, the S&P 500 stands at 6,967.38.
S&P 500 earnings beat miss
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