S&P 500 Futures Slide 0.4% as US-Iran Tensions Lift Oil Prices

US stock futures fell on June 21 as investors reacted to renewed Middle East tensions and awaited the PCE inflation report. S&P 500 futures dropped 0.4%, Nasdaq 100 futures fell 0.6%, and Dow futures declined 0.3%, while WTI crude jumped nearly 3% to $78 per barrel. The move follows warnings that inflation, already at 4.2% in May after the Strait of Hormuz closure removed 20 million barrels per day, will remain sticky even if peace talks advance. President Trump had expected inflation to drop sharply once the war ended, but markets now price higher odds of Fed rate hikes.