Rising oil prices and sharp drops for two of Wall Street’s most influential companies, Alphabet and Tesla, yanked the US stock market lower.

The US stock market is drifting in mixed trading, while oil prices climb another 3 per cent as fighting continues in the war with Iran.

ASX futures down; S&P 500 sheds more than 1pc; mag seven shred $1 trillion of value as Tesla tumbles 14pc, Alphabet drops 6pc. Follow live.