Stock futures fell in overnight trading Sunday as stalled Iran peace talks and a fresh escalation in the Strait of Hormuz pushed oil prices higher, keeping geopolitical tensions front and center heading into a pivotal week.
Futures tied to the Dow Jones Industrial Average fell 0.2%, or 130 points. S&P 500 futures declined 0.3%, while Nasdaq 100 futures slipped 0.3%.
President Donald Trump on Saturday scrapped plans to send U.S. special envoy Steve Witkoff and Jared Kushner to Pakistan for ceasefire talks related to Iran, noting the negotiations could happen by phone.
“Too much time wasted on traveling, too much work!” the president wrote in a post on Truth Social. “Nobody knows who is in charge, including them. Also, we have all the cards; they have none! If they want to talk, all they have to do is call!!!”
Iran’s Foreign Ministry spokesman Esmaeil Baqaei said no meeting between Tehran and Washington is currently planned.
