US stock futures edged lower on Tuesday as investors assessed escalating tensions in the Middle East after President Donald Trump reinstated a blockade on Iranian vessels transiting the Strait of Hormuz.
The move sent oil prices sharply higher and weighed on equities, fueling concerns that central banks may need to raise interest rates to contain renewed inflationary pressures.
Investors also awaited key US inflation data and Fed Chair Kevin Warsh’s testimony before Congress later on Tuesday.
On the corporate front, earnings from JPMorgan Chase, Goldman Sachs, Bank of America, Citigroup, and Wells Fargo are due later today.
In regular trading on Monday, the Dow fell 0.26%, the S&P 500 declined 0.79%, and the Nasdaq Composite dropped 1.55%.
Chipmakers led the losses amid persistent concerns that AI hyperscalers could scale back spending on AI infrastructure, with Micron (-4.3%), Nvidia (-3.5%), Sandisk (-12.6%), AMD (-4.2%), and Intel (-6.1%) all ending lower.