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HomeMarket NewsUS Stock Market Update: Dow futures reverse course, erase 550-point drop
US Stock Market Update: US stock futures slipped on Monday as a fresh flare-up in US-Iran tensions over the weekend rattled investor sentiment and cast a shadow over fragile peace efforts. Dow Jones Industrial Average futures fell 258 points (0.5%), while S&P 500 and Nasdaq-100 futures declined 0.5% and 0.4%, respectively.
Dow futures staged a sharp turnaround, turning positive after erasing an earlier drop of as much as 550 points, signalling shifting market sentiment. However, while the S&P 500 and Nasdaq-100 were both in the red.
The downturn comes after US President Donald Trump claimed that American forces fired on and seized an Iranian-flagged cargo ship in the Gulf of Oman, escalating the conflict after Tehran skipped another round of US-led peace talks.
The situation worsened as Iran moved to restrict vessel traffic through the Strait of Hormuz, stoking fears of supply disruptions in a key global oil route.
Crude prices surged on the back of these developments, with West Texas Intermediate jumping over 6% to above $88 per barrel and Brent crude climbing past $95 per barrel, amplifying inflation concerns and adding another layer of uncertainty for markets already navigating record highs.
