Stock market today: Dow, S&P 500, Nasdaq futures waver as Trump's deadline for Iran ultimatum looms
Why it matters: The looming Tuesday evening deadline for Iran's ultimatum is causing US stock futures to waver by up to 0.6% and oil prices to jump by 2%.
- US stock futures for the S&P 500 (ES=F) slid 0.5%, Dow (YM=F) fell 0.4%, and Nasdaq 100 (NQ=F) dropped 0.6% as the Iran deadline looms, according to the main story and Yahoo Finance.
- European shares were lifted by banks and media stocks, as reported by Economic Times Markets, even as they braced for Trump's Iran deadline.
- President Trump backed away from a military ground operation in Iran, citing a lack of popular support, but the deadline for Iran to reopen the Strait of Hormuz remains.
- Axios reported that the US has carried out strikes on Kharg Island, home to Iran's major oil shipment facility, causing oil prices to surge.
- Brent crude futures (BZ=F) gained about 1% to around $111 a barrel, while US benchmark West Texas Intermediate futures (CL=F) rose 2% to nearly $115 following reports of strikes.
- Bitcoin is pulling away from software stocks, with CoinDesk noting that the Iran war and AI are reshaping market dynamics.
Global stock markets are on edge as President Trump's ultimatum for Iran regarding the Strait of Hormuz approaches its Tuesday evening deadline, with US futures for the S&P 500, Dow, and Nasdaq all declining. While Trump ruled out a ground operation, reports of US strikes on Iran's Kharg Island have sent oil prices soaring, with Brent crude up 1% to $111 a barrel and WTI up 2% to nearly $115.
