Dow Jones futures whiplash as Iran tensions resume
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The Dow Jones Industrial Average fell around 230 points, or roughly 0.5%, on Thursday, giving back the previous session’s gains as surging Oil prices and collapsing ceasefire optimism crushed risk appetite. The S&P 500 dropped 0.8%, while the tech-heavy Nasdaq Composite shed 1.1%. The selling marked an abrupt reversal from Wednesday’s rally, which had been fueled by hopes that a US-brokered peace deal with Iran was within reach. Dow Jones futures slid to 46,200 before a sharp correction into the 46,800 region before immediately paring back into the early session’s levels. Overnight session sets a bearish tone The risk-off mood was already firmly in place before New York opened. Asian markets sold off overnight after Iran responded negatively to the US’s 15-point ceasefire proposal, with state media citing an unnamed senior official who spoke of a counterproposal demanding a complete halt to strikes and recognition of Iranian sovereignty over the Strait of Hormuz. South Korea’s Kospi slumped more than 3%, weighed further by heavy selling in tech names like Samsung after Alphabet (GOOG) published research on a more efficient AI memory compression method. China’s Shanghai index and Hong Kong’s Hang Seng both declined around 1%. European indices followed suit, with the Stoxx 600 trading roughly 0.8% lower ahead of the US open, as Brent Crude climbed through $106 during the European morning session. Iran tensions escalate as Trump’s deadline looms Thursday marked 48 hours until the expiration of President Donald Trump’s five-day pause on strikes against Iranian power and energy infrastructure, and the diplomatic picture deteriorated further throughout the session. Trump posted on Truth Social that Iranian negotiators were “very different” and “strange,” warning that Tehran had better “get serious soon, before it is too late.” Separately, CNN reported that the commander of Iran’s Islamic Revolutionary Guard Corps (IRGC) Navy…
Filed under: News - @ March 26, 2026 5:28 pm