March 3 (Reuters) - U.S. stock index futures fell on Tuesday as investors assessed the fallout of U.S. and Israeli strikes on Iran and the repercussions it could have on inflation and global trade.
Tehran vowed to close the Strait of Hormuz and said it would fire on any ship trying to pass, pushing up global crude prices and shipping rates. The strait handles about a fifth of the world's total oil consumption.
Industries exposed to crude prices such as airlines and travel were knocked back for a second day. Delta DAL.N and Royal Caribbean RCL.N fell about 3% each.
"Much will depend on the price of oil," said a group of strategists led by Deutsche Bank's Jim Reid. "Any sustained spike would undoubtedly trigger a more meaningful risk-off move."
Investors worried that higher oil prices could stoke inflation across the broader economy and further complicate policy decisions for central bank officials already contending with price increases driven by tariffs.
