Stock market today: Dow, S&P 500, Nasdaq futures fall as US strikes Iran, rate-hike bets jump

U.S. equity futures declined on geopolitical tension and shifting monetary policy expectations. S&P 500 futures dropped roughly 0.4% alongside a rise in oil prices, with Brent crude moving above the $90 mark. Simultaneously, markets repriced the probability of a Federal Reserve rate hike in September, lifting odds to 57%, signaling trader concern that inflation pressures or economic data could prompt the central bank to hold rates higher for longer.

The moves reflect dual headwinds: immediate risk aversion tied to military action and medium-term anxiety about borrowing costs. Oil's jump typically pressures equity valuations, while higher rate expectations weigh on growth stocks and duration-sensitive assets.

• S&P 500 futures fell 0.4% as oil spiked above $90 on geopolitical risk.
• Fed rate-hike odds for September climbed to 57%, signaling market concern over persistent inflation or tighter monetary policy ahead.