NEW YORK, United States — US equities joined a global equity rout Tuesday due to surging oil prices, but cut their losses after President Donald Trump announced steps to safeguard commerce in the Strait of Hormuz. The waterway, which accounts for the transport of about one-fifth of global crude supplies, has been mostly devoid of traffic since the United States and Israel launched military attacks on Iran Saturday. READ: Trump says US navy could escort tankers through Hormuz Strait Crude prices continued to surge early Tuesday, with Brent futures topping $85 a barrel for the first time since July 2024 […]... Keep on reading: US stocks cut losses after Trump announces steps to safeguard Hormuz Strait