US Stock Market Today: Dow, S&P 500, Nasdaq Futures Fall as US-Iran Tensions Shutter Hormuz

US stock futures turned lower on Monday after renewed US-Iran tensions rattled global markets and pushed oil sharply higher, shifting investor focus from record-setting momentum back to inflation risk and geopolitical uncertainty. The biggest concern came from the latest disruption around the Strait of Hormuz, one of the world’s most important oil shipping routes, with the move immediately weighing on sentiment across the three major US indexes.

Before the opening bell, Dow Jones Industrial Average futures (YM=F) were down 276 points to 49,365.00, a decline of about 0.56%. Futures linked to the S&P 500 (ES=F) and the Nasdaq 100 (NQ=F) also slipped around 0.4%. The sell-off was not driven by weak earnings or economic data. Instead, it came from a sharp repricing in energy markets as traders reacted to the risk of supply disruption in the Gulf.

The market’s first reaction was visible in crude. West Texas Intermediate crude (CL=F) climbed around 5.7% to roughly $87 per barrel, while Brent crude (BZ=F) rose about 4.7% to near $95 per barrel. Those moves matter because oil is not just an energy story. A rapid jump in crude can influence inflation expectations, corporate input costs, airline fuel bills, shipping expenses, and consumer confidence. That is why stock futures pulled back even though the move in crude remained below the $100 mark that often triggers a more severe market response.

For readers searching why the market is down today, the answer is simple: investors are trying to judge whether this is a short-term geopolitical shock or the start of a broader energy-driven inflation problem. The Strait of Hormuz carries a large share of the world’s oil and fuel shipments, so any threat to traffic there can send prices higher within hours. Once oil jumps, traders quickly revisit whether the Federal Reserve could face a tougher inflation backdrop, especially if energy prices stay elevated for more than a few sessions.

That is especially important now because US stocks have been trading near record levels and valuations in parts of the market already look stretched. When markets are expensive, investors usually become less tolerant of external shocks. A sudden rise in oil can pressure sectors that rely on transportation, logistics, and consumer spending. It can also trigger a rotation out of higher-multiple growth names if traders start worrying that persistent energy inflation could complicate the rate outlook.

Even with that cautious backdrop, several individual stocks were firmly in focus. Marvell Technology (MRVL) rose sharply in premarket trading after a report said Google (GOOG, GOOGL) is in talks with Marvell to develop two new AI chips. Marvell was indicated around $146.80, up $7.11 or roughly 5.09% before the open. The move highlighted that appetite for AI-linked semiconductor stories remains strong even when the broader market turns nervous.

Eli Lilly (LLY) was another notable mover. Shares of the drugmaker gained more than 2% in premarket action after reports that Lilly is in advanced talks to acquire cancer biotech firm Kelonia Therapeutics for more than $2 billion. Deal activity of that size tends to attract fresh attention because it gives investors a company-specific growth angle at a time when macro headlines are dominating the tape.

That leaves the broader market facing a difficult balancing act. On one side, investors still have reasons to stay engaged with risk assets, especially where AI demand, healthcare expansion, and earnings resilience continue to support certain names. On the other, rising oil prices can quickly become a headwind for airlines, retailers, transport companies, and other businesses exposed to higher operating costs. If crude extends higher from here, traders will start paying even closer attention to margin pressure, consumer spending sensitivity, and inflation-linked commentary from management teams.

This week’s earnings calendar adds another layer of importance. Tesla (TSLA), Intel (INTC), and United Airlines (UAL) are all set to report in the days ahead. Tesla’s update will be watched for demand trends and profitability. Intel’s report will be parsed for signs of AI-related semiconductor momentum. United Airlines could become a real-time test of how investors are thinking about fuel costs as crude jumps. Those reports may help determine whether this market wobble remains a short-lived reaction or becomes a broader reset in sentiment.

For now, the key market signal is straightforward. Dow, S&P 500, and Nasdaq futures are under pressure because traders are repricing energy risk after the latest Middle East escalation. If oil stabilizes and shipping fears ease, risk appetite could recover quickly. If the Hormuz disruption worsens, then markets may have to absorb more than just a premarket dip. For investors watching today’s session, the biggest indicators remain oil, index futures, and whether stock-specific strength in names like MRVL and LLY can offset the broader macro caution reflected across Wall Street.

For a broader live market view, investors are also watching updates from Yahoo Finance as the session develops.