Markets tumble as Middle East tensions reignite. U.S. stock futures fell sharply Monday following weekend escalations between Iran and the United States. The Dow Jones futures dropped 425 points, or 0.9%, while S&P 500 and Nasdaq-100 futures each declined 0.7%. Hopes for a regional peace deal that boosted stocks last week have evaporated after Iran rejected further talks and the U.S. seized an Iranian cargo ship in the Gulf of Oman. Oil prices surged in response, with Brent crude jumping 6.77% to $96.50 per barrel and U.S. crude futures rising 8.05% to $90.56. The Strait of Hormuz remains a critical flashpoint, with Iran alternately declaring it open and closed. Asian markets opened mixed, reflecting investor uncertainty about energy supplies and geopolitical risks ahead.
