U.S. Futures Slip as Iran Tensions and AI Pullback Weigh

U.S. stock futures fell Sunday evening as investors weighed heightened tensions involving Iran and OpenAI’s decision to halt development of some advanced AI models. S&P 500 futures were down 0.27% at 7,783.0 points by 19:30 ET. Nasdaq 100 futures lost 0.2%, while Dow Jones futures fell 0.3%.

President Donald Trump said Saturday that he had rejected an Iranian proposal to reopen the Strait of Hormuz and end fighting in the Middle East. He later told reporters he believed the war would end soon and oil prices would fall sharply, while also raising the possibility of more strikes on Iran before November’s midterm elections.

Brent prices rose nearly 2% in early Asian trading Monday. Higher crude prices have concerned Wall Street because of fears that energy costs could push inflation and interest rates higher.

The declines followed a positive Friday session, when U.S. stocks posted weekly gains. Optimism about Meta Platforms’ new AI agent had helped fuel a broader technology rally, but concerns about Iran, rising Treasury yields and hawkish Federal Reserve signals limited gains.