05:33 PM EDT, 03/30/2026 (MT Newswires) -- US equity indexes were mixed on Monday as Iran reportedly approved a plan to impose tolls on vessels passing the Strait of Hormuz, and technology shares slumped.

Meanwhile, President Donald Trump warned Iran of dire consequences if it fails to reach a ceasefire agreement with his negotiating team.

The Dow Jones Industrial Average rose 0.1% to 45,216.14. The S&P 500 fell 0.4% to 6,343.72, after trading higher earlier in the session. The Nasdaq Composite declined 0.7% to 20,794.64. Technology and industrials led the decliners.

The Iranian Parliament's Security Commission has approved a plan to impose tolls in the Strait of Hormuz, hours after Donald Trump issued a new blistering threat to the country, the Express reported, citing Iranian news agency Fars, often described as close to the Islamic Revolutionary Guard Corps.

On Monday, a member of the National Security Commission announced the plan had been given the go-ahead, the news report said, adding that the plan prohibits the passage of US and Israeli vessels.

This follows President Donald Trump's warning to Iran that the US may blow up and completely obliterate Tehran's electric plants and oil wells if a deal to end the war is not reached and the Strait of Hormuz is not reopened. Iran contradicted Trump's claims that Tehran had agreed to "most of" the 15-point list of demands put forward by the US to end the war, describing the proposal as "unrealistic."

Trump also said, in an interview with the Financial Times, that the US could "very easily" control Kharg Island, the location of a vast majority of Tehran's crude oil exports, and "take the oil in Iran". The president is also weighing a military operation to extract nearly 1,000 pounds of uranium from Iran, likely putting US forces inside Tehran for days or longer, the Wall Street Journal reported, citing US officials.

West Texas Intermediate crude oil futures jumped 5.4% to $104.85. Brent crude futures rose 1.8% to $114.61.

Micron Technology ( MU ) shares sank 9.9%, among the worst performers on the Nasdaq and the S&P 500.

Further in company news, Sysco ( SYY ) agreed to acquire Jetro Restaurant Depot in a cash-and-stock $29.1 billion deal. Sysco ( SYY ) shares sank 15%, the worst performer on the S&P 500.

Meanwhile, Federal Reserve Chair Jerome Powell said Monday inflation expectations remain well anchored after an expected short-term price shock from the conflict in Iran, noting that the longer lag with which monetary policy works allows the Federal Open Market Committee to look past brief supply shocks.

Powell emphasized the need for the FOMC to act independently of political forces and noted that the FOMC lacks the tools to deal with short-term price spikes. He said that the FOMC should remain focused on inflation expectations. "Inflation expectations do appear to be well anchored beyond the short term."

The CME FedWatch tool showed that the probability of the Fed increasing interest rates by 25 basis points plunged on Monday across April to December, compared with the end of last week. The market currently expects a 3.7% likelihood of policy tightening in December to the 3.75% to 4% target range, versus a 22% chance of a hike on Friday.

In economic news, the Dallas Fed's monthly manufacturing index fell to minus 0.2 in March from 0.2 in February, compared with expectations for a 1.5 print.

In precious metals, gold futures rose 0.3% to $4,507.9 and silver futures climbed 0.5% to $70.21.