Wall St futures slide as oil extends surge amid Middle East war U.S. stock index futures fell on Sunday evening as escalating tensions in the Middle East drove crude oil prices above $100 a barrel, raising concerns about potential economic slowdowns and inflationary pressures in the United States. The S&P 500 Futures dropped 1.7% to 6,632.75 points, while Nasdaq 100 Futures declined 1.8% to 24,234.0 points. Dow Jones Futures also fell 1.7% to 46,696.0 points. The decline followed a surge in oil prices, fueled by fears of supply disruptions and risks to shipping through the Strait of Hormuz, a critical route for global oil trade. The spike in crude prices has intensified worries that a renewed energy shock could push inflation higher and dampen consumer spending. Analysts noted that sustained oil price increases could complicate the Federal Reserve’s policy outlook by keeping inflationary pressures elevated even as economic growth slows. The U.S. energy secretary described the current oil rally as a “fear premium” driven by geopolitical tensions, suggesting it is likely to fade as the situation stabilizes. Geopolitical developments over the weekend further unsettled markets. Iran announced the appointment of Mojtaba Khamenei, the son of the late Supreme Leader Ali Khamenei, as the country’s new supreme leader. Mojtaba, viewed as a hardliner, is expected to maintain Iran’s confrontational stance toward Western nations. Meanwhile, former President Donald Trump tweeted that the rise in oil prices was an acceptable consequence of military action against Iran’s nuclear program, calling the short-term price increase a “very small price to pay” for addressing the perceived nuclear threat. The conflict has also disrupted oil exports, with Iraq reporting a 60% drop in output due to attacks on tankers by Iranian forces.#iran #middle_east #donald_trump #strait_of_hormuz #mohammad_khamenei
