US Strikes on Iran Sink Nasdaq Futures 1.6% as Hormuz Disruptions Hit Global Stocks
Updated
Updated · CNBC · Jul 16
US Strikes on Iran Sink Nasdaq Futures 1.6% as Hormuz Disruptions Hit Global Stocks
3 articles · Updated · CNBC · Jul 16
Summary
Dow futures fell 420 points, S&P 500 futures lost 0.9% and Nasdaq-100 futures dropped 1.6% early Friday after the U.S. completed a sixth straight night of strikes on Iran.
US Central Command said the overnight attacks hit dozens of military targets, including logistics infrastructure and maritime capabilities, as a truce reached last month fractured again.
That renewed fighting disrupted flows through the Strait of Hormuz, a chokepoint that carries about 20% of global oil traffic, deepening risk aversion across markets.
Japan’s Nikkei 225 slid 5.2%, Topix fell 3.7% and Hong Kong’s Hang Seng lost 2.2%, extending Thursday’s Wall Street weakness led by a nearly 4% drop in the VanEck Semiconductor ETF.
Even with the latest selloff, the S&P 500 remains about 1% below its early-June record high, while Ned Davis Research said the pullback still looks more like consolidation than a recession signal.