Stock futures fell on Tuesday as President Donald Trump’s deadline for Iran to reopen the Strait of Hormuz approached, with hopes of an agreement fading. Dow Jones Industrial Average futures shed 205 points, or 0.4%. Futures tied to the S&P 500 were down 0.5%. Nasdaq 100 futures traded 0.6% lower. The Wall Street Journal reported that negotiators aren’t optimistic a deal between the U.S. and Iran can be reached before Trump’s deadline. On Monday, Trump reiterated his warning that the U.S. will destroy Iran’s power plants and bridges if the nation does not reopen the Strait of Hormuz by 8 p.m. ET on Tuesday. Trump also said in a news conference on Monday that he had decided to extend the deadline to Tuesday because he “thought it was inappropriate the day after Easter.” “They have ’til tomorrow,” the president said. “Now we’ll see what happens. I can tell you, they’re negotiating, we think in good faith, we’re going to find out. We’re getting the help of some incredible countries that want this to be ended, because it affects them also.” Axios reported that the U.S., Iran and other mediators were discussing terms to reach a potential 45-day ceasefire that could lead to a permanent end to the war, citing sources with knowledge of the talks. Even so, the 45-day ceasefire is only one of the ideas being explored. Reuters also reported that that the U.S. and Iran on Monday were reviewing a plan brokered by Pakistan that could end the conflict. Despite the increased tensions, the major averages ended Monday’s session higher. “Everybody was betting that it’s going to be short term and I think the market still is, and frankly, I still am too,” Barbara Doran, founder and CEO of BD8 Capital Partners, said on CNBC’s “Closing Bell: Overtime” on Monday afternoon. “The market will say, ‘OK, it’s going to be over soon,’ and then we can resume where we’re going, which is starting the year very bullish. And now you have also continued fiscal stimulus from the defense spending.” Treasury yields were relatively unchanged on Tuesday as President Donald Trump again warned the U.S. would strike Iranian civilian and energy infrastructure if Tehran did not agree to reopen the Strait of Hormuz before a looming deadline. The 10-year Treasury yield — the benchmark for U.S. government borrowing — was less than 1 basis point higher at 4.341%. The yield on the 2-year Treasury note, which are more sensitive to short-term Federal Reserve rate decisions, was also up by less than 1 basis point at 3.852%. The 30-year bond yield, meanwhile, rose more than 1 basis point, reaching 4.903%. Asia-Pacific markets traded mixed on Tuesday following a volatile trading session, as investors assess Iran war-related developments with the U.S. deadline for a ceasefire deal approaching. Australia’s S&P/ASX 200 advanced 1.74% to end the session at 8,728.8. Japan’s Nikkei 225 barely budged, finishing the day 0.03% higher at 53,429.56, while the broad-based Topix gained 0.25% at 3,654.02. South Korea’s blue-chip Kospi was up 0.82% at 5,494.78, and the small-cap Kosdaq lost over 1% to finish at 1,036.73. Mainland China’s CSI 300 was unchanged at 4,440.62, and Hong Kong markets remained closed on Tuesday for the Easter holiday. India’s Nifty 50 reversed earlier losses to rise 0.23% and Sensex was up 0.25%, tracking volatile trading in other Asian markets. Oil prices were higher on Tuesday after U.S. President Donald Trump doubled down on his threats to attack Iran’s civil infrastructure, warning the nation will be “taken out in one night” if the Islamic Republic’s leadership failed to reopen the Strait of Hormuz. International benchmark Brent crude futures with June delivery traded 0.8% higher at $110.64 per barrel at midday London time (7 a.m. ET), while U.S. West Texas Intermediate futures with May delivery traded 1.8% higher at $114.44. Gold prices rose on Tuesday, as investors remained cautious ahead of a deadline set by U.S. President Donald Trump for reopening the Strai of Hormuz, a key flashpoint in the Iran war. Spot gold traded 0.6% higher at $4,674.89 per ounce, while U.S. gold futures for June delivery climbed 0.4% to $4,702.20.