Dow Futures Drop 661 Points Amid Rising Oil Prices Over Iran Conflict

AI Summary

On Thursday, U.S. stock futures fell significantly, with Dow futures down 661 points, or 1.4%. S&P 500 futures decreased by 1.6%, and Nasdaq 100 futures dropped 2%. The decline followed President Trump's remarks indicating that the Iran war would continue, pushing West Texas Intermediate crude prices up 9% to over $109 per barrel, while Brent crude increased by 8% to above $109. Higher oil prices are expected to reduce consumer spending and slow economic growth, leading analysts to believe that the Federal Reserve may hold off on rate changes in the near future.