On Monday, stock futures and precious metals experienced a decline following President Donald Trump’s warning of potential strikes on Iranian power plants should the country fail to reopen the Strait of Hormuz, prompting Iran to promise retaliation. Futures for the Nasdaq 100, S&P 500, and Dow Jones Industrial Average indicated increases of 1.0%, 0.9%, and 0.8%, respectively. The blue-chip Dow, tech-heavy Nasdaq, and benchmark S&P 500 all concluded the week approximately 2% lower, marking their fourth consecutive week of declines, coinciding with a further surge in oil futures. On Friday, the small-cap Russell 2000 concluded in correction territory, declining 10% from its most recent peak, while the Dow and Nasdaq momentarily entered corrections before closing slightly above that threshold.

On Saturday night, Trump stated on his Truth Social network that the U.S. would “hit and obliterate” Iranian power plants if the country did not “fully open” the Strait of Hormuz within 48 hours. In response, Iran indicated it would target U.S. infrastructure. West Texas Intermediate crude futures, the U.S. benchmark, experienced an increase of 1% to $99.25 a barrel in recent trading. This marks a significant rise of approximately 47% since the U.S. and Israel initiated attacks on Iran on February 28, which prompted Iran to retaliate against Israeli and U.S. interests in the Middle East, effectively disrupting the crucial Strait of Hormuz shipping channel.

Brent crude futures, serving as the global benchmark, experienced an increase of 1.2%, reaching $113.50 per barrel. Meanwhile, gold futures continued their recent pullback, tumbling 7% to around 4,250 an ounce, while silver sank 8% to below 64 an ounce. The yield on the 10-year Treasury note, a critical determinant of interest rates across various consumer loans, increased to 4.44% from Friday’s close of approximately 4.39%, marking its highest closing level since last July.

The U.S. Dollar Index, which measures the value of the greenback relative to a selection of currencies, recorded an increase of 0.5%, reaching 100.10. Bitcoin was trading at approximately 68,600, an increase from the day’s low of 67,400. Stocks of the Magnificent Seven tech giants indicated a downward trend prior to the market opening, following a third consecutive session of declines on Friday. Tesla led premarket declines at 2.7%.