Dow futures fall 200 points, crude oil jumps after Trump rejects latest Iran offer

US stock futures declined Monday after trading resumed following the weekend, with Dow futures dropping as much as 200 points, while S&P 500 and Nasdaq futures fell 30 and 90 points respectively. The S&P 500 and Nasdaq had reached record highs last week, closing near 7,400 and above 26,000 respectively, but volatility returned following Donald Trump’s rejection of Iran’s latest offer to end the conflict in West Asia. Trump posted on Truth Social that Iran’s proposal was ‘totally unacceptable,’ citing disagreements over its nuclear program and stockpile of highly enriched uranium. The Wall Street Journal reported Iran refused US demands, while Israeli Prime Minister Benjamin Netanyahu stated the war with Iran is ‘not over,’ emphasizing continued efforts to curb Iran’s nuclear ambitions. Crude oil prices rose sharply in early Asian trading, with Brent and WTI crude both gaining 3%, nearing $105 and $100 per barrel respectively. The price surge followed a Qatari natural gas tanker crossing the Strait of Hormuz for the first time since tensions escalated, alongside a Panama-flagged bulk carrier passing through an Iran-designated route. Market uncertainty remains high as key US economic data releases are scheduled for the week, including April consumer price inflation (CPI) on Tuesday, producer price inflation (PPI) on Wednesday, retail sales on Thursday, and industrial production data on Friday. Additionally, five Federal Reserve officials are set to deliver speeches, further influencing market sentiment.