Stock market today: Dow, S&P 500, Nasdaq futures sink as Iran launches strikes in face of Trump warning

Market Overview - US stock futures retreated as tensions between Iran and the US escalated, with Dow Jones futures down approximately 0.5%, S&P 500 futures down 0.6%, and Nasdaq 100 futures down 0.7% [1][2] - The Middle East conflict is entering its fourth week, with increasing risks of major escalation as President Trump issued an ultimatum to Iran regarding the Strait of Hormuz [2] Oil Market Impact - Oil prices have surged, with West Texas Intermediate crude futures rising above $100 per barrel and Brent crude futures exceeding $113, reflecting market concerns about inflation and the Federal Reserve's outlook [3][5] - Brent crude has increased by over 50% since late February due to the ongoing conflict, raising fears of global inflation and market turmoil across various sectors [6] Goldman Sachs Price Forecast - Goldman Sachs raised its oil price targets, now projecting Brent to trade at $110 per barrel through March and April, up from a previous estimate of $98 per barrel, based on the assumption of reduced flows through the Strait of Hormuz [12] - The bank also adjusted its long-term price expectations for Brent and WTI, forecasting averages of $85 and $79 per barrel for 2026, respectively, up from previous estimates of $77 and $72 [12] Strategic Market Considerations - The market is likely to require a growing risk premium to hedge against potential shortages due to the high concentration of production and spare capacity, leading to structurally higher strategic stockpiling [13]