Dow futures drop 400 points as Iranian war tensions escalate: Live updates
Stock futures plummeted as tensions between the US and Iran escalated after the US seized an Iranian cargo ship. Crude prices surged as a result of the heightened tensions.
Stock futures dropped significantly on Sunday night due to escalating tensions between the US and Iran. The US seized an Iranian-flagged cargo ship in the Gulf of Oman, according to President Donald Trump. The ship was under US Treasury sanctions due to its history of illegal activity. Crude prices surged, with West Texas Intermediate futures rising 8% to $90.54 per barrel. The S&P 500 and Nasdaq Composite had previously reached all-time highs following a ceasefire between Iran and Lebanon. The US blockade of the Strait of Hormuz remains in place until Iran agrees to US demands.
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