TLDRStock index futures plummeted Tuesday following fresh military strikes by U.S. and Israeli forces targeting Iran and Lebanon.Futures contracts on the S&P 500 declined 1.5%, while Dow futures shed 1.4% and Nasdaq 100 futures plunged nearly 2%.Crude oil prices jumped more than 6%, with Brent reaching $82.64 per barrel as shipping traffic diverted from the Strait of Hormuz.Trump declined to dismiss the possibility of U.S. ground forces, stating America could maintain military operations “far longer” than the initially projected four-to-five-week timeline.Bond yields climbed on concerns about inflation driven by oil prices, while Bitcoin dropped 2.2% and gold rebounded after an initial decline.Equity futures in the United States tumbled Tuesday morning after renewed military operations targeting Iran and Lebanon sent shockwaves through financial markets and drove energy prices significantly higher.E-Mini S&P 500 Mar 26 (ES=F)Dow Jones Industrial Average futures declined 692 points, representing approximately a 1.4% decrease. Futures contracts tracking the S&P 500 fell 1.5%, while Nasdaq 100 futures dropped roughly 2%.The decline followed overnight military operations conducted by Israeli and American aircraft against Iranian and Lebanese targets. Tehran retaliated with strikes on the U.S. Embassy located in Saudi Arabia and additional locations throughout Gulf nations, with reports indicating attacks in no fewer than nine countries.BREAKING: Global stock markets post largest declines in months as Brent oil prices surge above $85/barrel and Trump says the US can fight "forever."1. South Korea: -8%2. Japan: -6%3. South Africa: -6%4. Germany: -5%5. Spain: -5%6. Italy: -4%7. United Kingdom: -4%8.…— The Kobeissi Letter (@KobeissiLetter) March 3, 2026The downturn marked a dramatic shift from Monday’s trading. Equities had bounced back from significant intraday declines to finish predominantly positive, with the S&P 500 recording its largest intraday recovery since November.Tuesday’s pre-opening selloff proved more widespread and difficult to reverse.Oil Spikes as Strait of Hormuz Concerns MountCrude prices surged more than 6% as oil tankers started rerouting away from the Strait of Hormuz, a vital passageway for international petroleum transport. Brent crude advanced to $82.64 per barrel, gaining 6.3%, while West Texas Intermediate increased 6.5% to reach $75.87.The petroleum price surge intensified concerns about rising inflation and pushed government bond yields upward. The benchmark 10-year Treasury yield increased 5 basis points to 4.09%, following a 9-point jump in the previous session.Gold futures advanced 0.4% to $5,331 per ounce after briefly falling earlier, as market participants sought refuge in safe-haven assets. The U.S. dollar strengthened 0.6% relative to a basket of major currencies.Bitcoin decreased 2.2% to $67,616, mirroring the wider risk-averse market sentiment.President Trump intensified concerns Monday evening through a Truth Social post declaring the U.S. possessed “a virtually unlimited supply” of military hardware. He declined to eliminate the option of sending ground forces, stating “whatever it takes,” and indicated the military engagement might extend “far longer” than the originally estimated four-to-five-week duration.Corporate Earnings Still in FocusDespite heightened geopolitical tensions, quarterly earnings reports continued to roll out. Target shares gained in premarket trading after delivering holiday season and annual sales figures that aligned with analyst expectations. Financial results from Ross Stores, AutoZone, and Best Buy were scheduled for release Tuesday as well.Deutsche Bank analyst Jim Reid noted that market direction would depend heavily on crude oil price movements. “Any sustained spike would undoubtedly trigger a more meaningful risk-off move,” he stated, “but without that, markets are likely to revert fairly quickly to focusing on macro data and AI-related themes.”As of Tuesday’s premarket session, Dow futures stood at 48,201, down 744 points, S&P 500 futures traded at 6,780, and Nasdaq 100 futures were positioned at 24,521.The post Stock Market Futures Plunge as Trump Warns Conflict May Last Months appeared first on Blockonomi.