FX.co ★ US Futures Retreat

US stock futures fell on Monday, setting the tone for a global pullback in equities as an escalation of the Middle East conflict pushed oil prices higher and reinforced stagflation risks. Futures on the S&P 500, Nasdaq 100, and Dow were all down more than 0.5%.

A US delegation led by Vice President Vance failed to reach an agreement with Iran over the weekend, putting the current ceasefire in jeopardy and prompting President Trump to announce a blockade on tankers carrying Iranian energy out of the Arabian Sea. Oil and gas prices jumped as the conflict dragged on, driving bond yields higher and intensifying macroeconomic headwinds for credit‑sensitive and speculative segments of the US equity market.

Semiconductor producers and data-center operators declined in pre-market trading, with Nvidia, AMD, and Amazon each down more than 1%. Banks and asset managers traded mixed ahead of this week’s earnings reports, which are expected to highlight the impact of higher yields and potential vulnerabilities linked to private credit stress.