U.S. stock futures pointed to a sharply weaker start on Wednesday after President Donald Trump said a ceasefire with Iran was over, triggering a fresh bout of risk-off sentiment across global markets.
As of 3:52 a.m. GMT-5, E-mini Nasdaq-100 futures were down 321.25 points, or 1.09%, to 29,070.25, indicating heavy selling in technology stocks. E-mini S&P 500 futures declined 59 points, or 0.78%, to 7,492.25 as of 3:53 a.m. GMT-5.
The weakness follows a softer close on Wall Street overnight, where the Dow Jones Industrial Average ended 130.76 points, or 0.25%, lower at 52,925.15 on Tuesday.
Oil prices jumped after Trump declared that the ceasefire with Iran was no longer in effect. "I think it's over. As far as I'm concerned, it's just a waste of time dealing with them," Trump told reporters in Ankara.
Brent crude futures climbed more than 5% to around $78 a barrel, well above pre-conflict levels, after Trump's comments. The latest escalation follows an exchange of strikes between the U.S. and Iran after Tehran's recent attacks on ships near the Strait of Hormuz, fuelling concerns over energy supplies and geopolitical stability.
The risk-off mood extended beyond Wall Street. Asian technology-heavy indices fell for a second straight session, while European equities traded broadly lower, reflecting heightened investor caution.
Investors will also closely watch the minutes of the U.S. Federal Reserve's June policy meeting later in the day for fresh signals on the interest rate outlook under Fed Chair Kevin Warsh.
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