US stock futures fell more than 1.5% on Sunday as investor concerns deepened over the impact of the escalating Middle East conflict on the global economy, following a surge in oil prices above $100 per barrel. With the confrontation with Iran entering its second week and oil tankers still effectively blocked from the Strait of Hormuz, several regional producers, including Kuwait, Iran, and the UAE, have also cut crude output as available storage capacity nears its limit.
US equities were already under pressure last week, after weaker‑than‑expected payrolls data compounded worries about rising, war‑related inflation. Over the week, the Dow lost 3%, the S&P 500 declined 2%, and the Nasdaq fell 1.2%.
