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U.S. stock index futures were sharply lower Friday morning, after the U.S. confirmed an air strike that killed a top Iranian commander.
At around 3:21 a.m. ET, Dow futures dropped 270 points, indicating a lower open of more than 270 points. Futures on the S&P 500 and Nasdaq indexes were also lower.
U.S. equities rose to all-time highs on Thursday on the back of a strong performance in the tech sector. However, the optimism entering the new year seems to be fading amid geopolitical tensions.
The U.S. announced late Thursday that it had killed Iran’s top commander General Qasem Soleimani in Baghdad in an airstrike. Soleimani had been a key figure in Iranian politics and his death has raised concerns over a potential retaliation from the Iranian forces.
As a result, oil prices rose by almost 4% in the early Asian trading hours.
Meanwhile, in terms of data, there will be ISM manufacturing and construction spending numbers at 10 a.m. ET.
Investors will also monitor the release of the latest Fed meeting minutes due at 2 p.m. ET. There will also be a number of Fed speeches throughout the day.