Dow, S&P 500, Nasdaq Futures Plunge as U.S. Aggression Intensifies

US stock futures sold off again at one point this week after Israel and US jets launched new strikes on Iran, as the widening conflict stoked worries about a full-scale regional war, Rian Howlett and Karen Friar reported for Yahoo Finance.

The major US gauges staged a comeback from steep intraday losses to mostly close higher, as dip buyers stepped in.

Contracts on the S&P 500 dove 1.5%, while those on the Dow Jones Industrial Average pulled back 1.5%.

Nasdaq 100 futures led the retreat, dropping 1.9%, as oil prices continued to rally on concerns about blocked supply.

The fresh wave of Israeli-led attacks, with the US as a junior partner, jolted markets that on Monday mostly managed to shake off the initial shock of the outbreak of US-Iran hostilities.

The major US gauges staged a comeback from steep intraday losses to mostly close higher, as dip buyers stepped in.

Tuesday’s air strikes on Iran and Lebanon intensified a conflict that Wall Street expects to pressure global markets.

The focus is now on Tehran’s response after Iran targeted oil infrastructure and other sites across a huge swath of the region, with at least nine countries reporting hits.

Crude prices continued to rise on concerns that hostilities could disrupt key supply routes and reignite inflation pressures. According to Reuters, the Strait of Hormuz had been closed, with threats made against vessels attempting to pass through the waterway.