Stocks Plunge Amid Rising Oil Prices and Escalating Middle East Tensions

U.S. stock futures took a hit on Thursday morning as oil prices surged amid escalating tensions in the Middle East.

The Nasdaq 100, S&P 500 Index, and Dow Jones Industrial Average were down 0.46%, 0.28%, and 0.48%, respectively, at 8:05 a.m. EDT.

President Donald Trump sparked concerns with a Truth Social post announcing plans for a 'most crushing economic operation' against Iran, warning countries that help Iran bypass U.S. sanctions could face severe financial penalties.

Oil prices rose sharply in response, with Brent crude up 2.91% to $94.27 per barrel and WTI crude up 3.31% at $88.67 per barrel.