S&p 500 Futures Drop as Iran Shuts Strait of Hormuz, Stocks Slide
U. S. stock futures plunged after Iran shut the Strait of Hormuz, driving benchmark contracts lower and putting pressure on major sectors such as consumer staples and discretionary. Tuesday at 9: 14 a. m. ET, traders watched s&p 500 futures and other indicators for signs of a wider market reaction.
S&p 500 Futures Lead Futures Drop After Strait Of Hormuz Closure
Futures of the major benchmark indices were negative after the Strait of Hormuz closure, with energy and industrials bucking losses while most S&P 500 sectors declined. Coherent, Credo Technology, and CrowdStrike were named in coverage as stocks in focus amid the selloff.
Polymarket Shows 93% Odds of a Lower Open for Tuesday
Polymarket data show traders are heavily leaning toward a down open on Tuesday, pricing the S&P 500 to open lower at 93% “Down” versus 7% “Up, ” on roughly $28, 200 in volume. Fixed-income moves accompanied the signal: the 10-year Treasury yielded 3. 09% and the two-year bond was at 3. 54%, while the CME Group FedWatch tool projects a 97. 3% likelihood of the Federal Reserve leaving rates unchanged in March.
Jeremy Siegel Says Market Is Rotating; Mid- and Small-Caps Gain Participation
Professor Jeremy Siegel described the market as undergoing a healthy rotation rather than distress, noting eight of nine U. S. -style boxes remain positive year-to-date. He forecasts mega-cap AI leaders may deliver 0% to 10% returns this year while the rest of the market could advance 10% to 15%, and he highlighted growing participation from mid-cap, small-cap, and value sectors.
Commodity and currency moves reflected the market reaction: crude oil futures were trading higher by 5. 29% to hover around $75. 00 per barrel in the early New York session, while Gold Spot US Dollar fell 1. 12% to roughly $5, 262. 32 per ounce (its last record high listed at $5, 595. 46 per ounce). The U. S. Dollar Index spot was 0. 78% higher at the 99. 1480 level, and Bitcoin traded 0. 15% higher at $66, 450. 41 per coin over the prior 24 hours.
Asian markets closed lower on the day, with China’s CSI 300, Australia’s ASX 200, Japan’s Nikkei 225, Hong Kong’s Hang Seng, South Korea’s Kospi, and India’s Nifty 50 all finishing in the red; European markets were also lower in early trade, underscoring the global reach of the overnight shock.
Investors will be watching the U. S. market open at 9: 30 a. m. ET on Tuesday for immediate price action and order flow; more details are expected at the open if trading confirms the overnight pricing.
