Stock futures pointed to a lower open on Wall Street Tuesday as pessimism over a quick resolution to the war with Iran continued to weigh on investor sentiment. The Dow Jones Industrial Average futures fell 0.3%, while S&P 500 and Nasdaq 100 futures also declined.
Global Markets Under Pressure
Asian markets ended mostly lower, with Japan's Nikkei 225 dropping 1.2% and South Korea's KOSPI sliding 0.8%. European markets also opened in the red, with the Stoxx Europe 600 down 0.5% in early trading.
Investor Caution Prevails
Investors remain cautious amid uncertainty over the duration and impact of the conflict. Oil prices continued to rise, with Brent crude surpassing $110 per barrel, adding to inflationary concerns. Safe-haven assets such as gold and the U.S. dollar gained as traders sought protection.
In currency markets, the South Korean won weakened against the dollar, reflecting regional risk aversion. Traders in Seoul closely monitored the Korea Composite Stock Price Index, which fell amid the geopolitical tensions.
Corporate News Mixed
On the corporate front, George Weston reported a first-quarter profit of $106 million, up from $83 million a year ago. Meanwhile, Stellantis CEO emphasized that partnerships will be part of the company's future strategy. Netflix faced a lawsuit from Texas for allegedly spying on children and addicting users.
Elsewhere, a small study showed that one-time cell therapy could control HIV infection, offering hope in the medical field. However, hantavirus testing might not be useful for people without symptoms, according to experts.
Outlook
Analysts expect continued volatility as investors weigh the prospects for diplomatic efforts versus further escalation. The lack of a clear end to the conflict keeps markets on edge, with many looking to central banks for policy signals amid rising inflation.
