U.S. stock index futures fell sharply Sunday evening as Middle East tensions escalated, driving oil above $100/barrel and raising fears of economic slowdown and persistent inflation.
S&P 500 Futures: -1.7% to 6,632.75
Nasdaq 100 Futures: -1.8% to 24,234.0
Dow Jones Futures: -1.7% to 46,696.0
Wall Street closed lower last week amid rising geopolitical risks: Dow -3%, S&P 500 -2%, Nasdaq -1%.
Crude surged on supply disruption fears, especially via the Strait of Hormuz.
Higher energy costs could fuel inflation, curb spending, and complicate Fed policy as growth moderates.
Iran named Mojtaba Khamenei (a hardliner) as new supreme leader after Ali Khamenei's death, likely continuing anti-West stance.
Trump posted: Short-term oil price rises are a "very small price to pay" for eliminating Iran's nuclear threat.
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