Stocks Fall Ahead of Apple's iPhone Launch Amid Escalating Global Tensions

Investors are bracing for a lower stock market open on Wednesday as global tensions continue to rise. The Iran war and inflation fears are weighing heavily on sentiment, with oil prices surging to their highest level in nearly two months.

Brent crude futures have topped $100 a barrel for the first time since mid-July, while WTI crude oil futures rose 2.4% to $95.30 per barrel.

The increase in global oil prices is expected to translate into higher fuel costs and additional inflationary pressure in the US.