By Janet H. Cho
Stock futures were falling on Sunday as the potential for escalation in the Iran war increased.
Just after 6 p.m. Eastern time on Sunday, Dow futures were down 0.4% or about 187 points, while S&P 500 futures were down 0.4%, and Nasdaq 100 futures were down 0.5%.
Iran's Deputy Foreign Minister Kazem Gharibabadi posted on social media that any assault on Iran's critical infrastructure would be met with "proportionate reciprocal action," with the "full legal responsibility -- as well as all consequences arising from any further escalation" resting on those who initiate it. -- will rest with those who initiate it."
The words come after President Donald Trump on Saturday threatened to bomb Iran's power plants, starting with its biggest, in 48 hours if Iran didn't clear the Strait of Hormuz for shipping traffic.
Gold futures were down 2.1% on Sunday, according to FactSet.
Crude oil prices, which settled at $109.55 a barrel on Friday, were rising again on Sunday. Nymex crude futures were up nearly 2% to just over $100 a barrel, while Brent edged up 1% to just over $113 a barrel.
Patrick De Haan, GasBuddy's head of petroleum analysis, expects average gasoline prices to go above $4 a gallon in less than 48 hours, noting in a social media post that less than 1% of America's stations are offering gasoline at below $3 a gallon. The national price for a gallon of unleaded was $3.94 a gallon on Sunday afternoon, up by more than $1 a gallon from last month's average, according to GasBuddy.
The major U.S. stock indexes on Friday ended down last week for their fourth straight week.
The Dow Jones Industrial Average ended the week down 2.1%, notching its largest four-week point and percentage decline since the week ended April 4, 2025, the week Trump announced his so-called reciprocal tariffs, according to Dow Jones Market Data. The Dow is down 5.2% year to date.
The S&P 500 Index closed out last week down 1.9%, posting its largest four-week point drop since the week ended April 4, 2025, and its largest four-week percentage drop since the week ended April 17, 2025. The S&P 500 is down nearly 5% this year.
The tech-heavy Nasdaq Composite closed the week down 2.1%, in its largest four-week point and percentage decline since the week ended April 17, 2025. The Nasdaq is down 6.9% this year.
Write to Janet H. Cho at janet.cho@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 22, 2026 18:15 ET (22:15 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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