Wall Street futures indicated a gap-down start on Thursday, as investors turned cautious amid escalating Middle East tensions, persistent inflation risks, and uncertainty over interest rate trajectory.
At 5:16 am GMT-5, E-mini S&P 500 futures were down 39.75 points, or 0.55%, at 7,131.50. The contract opened at 7,163 and traded in a range of 7,105.5 to 7,164, compared to the previous close of 7,171.25. Volumes stood at 1,62,292, with open interest at 19,42,358.
At 5:17 am GMT-5, E-mini Nasdaq-100 futures declined 154.50 points, or 0.57%, to 26,928.50. The contract opened at 27,075, hitting a high of 27,099.75 and a low of 26,848.00. The previous close was 27,083.00, with volumes at 89,606 and open interest at 2,70,115.
At the same time, E-mini Dow Jones futures dropped 378 points, or 0.76%, to 49,290. The contract opened at 49,495.00 and moved between 49,130.00 and 49,532.00, versus its previous close of 49,668. Volumes were recorded at 16,494, while open interest stood at 71,949.
ALSO READ: Iran War Impact: S&P Global Sharply Reduces 2026 Oil Demand Forecast
Why Wall Street Is Under Pressure
According to media reports, the weakness in futures comes as markets react to rising geopolitical uncertainty in the Middle East, including concerns around a potential disruption in the Strait of Hormuz, a key global oil transit chokepoint.
Investors are also reassessing macroeconomic risks, with higher crude prices fuelling fears of persistent inflation in the 4–5% range, which could in turn heighten recessionary pressures.
Additionally, with US equities hovering near record highs, traders appear to be locking in profits and shifting towards a risk-off stance amid rising volatility.
Concerns over the US Federal Reserve's policy path are adding to the cautious mood, as expectations of prolonged higher interest rates continue to weigh on market sentiment.
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